Frank's DeGods Wallet Compromised: 16 NFTs Lost in Security Breach Following CEO Exit

The Solana-based NFT project DeGods faced a significant security incident when founder Frank’s (Rohun Vora) wallet was breached, resulting in the loss of 16 DeGods NFTs. According to reports from PANews and Decrypt, the unauthorized transfer involved approximately 108 SOL tokens—valued at roughly $19,000 at the time of the incident. The timing proved particularly sensitive, occurring just three days after Frank announced his stepping down as CEO of the project.

The Incident and Frank’s Response

Frank quickly confirmed the breach was caused by a hacker attack and took steps to dispel speculation about the assets. He denied circulating rumors suggesting he had intentionally sold the NFTs, instead emphasizing that his overall holdings in the DeGods ecosystem remain substantial. This clarification was important for maintaining confidence in the project’s leadership during a transitional period. The creator’s continued significant stake in DeGods tokens, worth more than $50,000, underscores his ongoing commitment to the initiative despite the security incident.

Leadership Transition in the DeGods Ecosystem

In the same week as the security breach, Frank formally transferred management responsibilities to pseudonymous team members Pasta and Chill. This handover marked a significant turning point for DeGods, allowing the project to move forward under new leadership while Frank remains an invested stakeholder. The transition came amid broader challenges facing the DeGods project, including controversy surrounding multiple cross-chain migrations that have periodically tested community confidence.

Market Performance and Ecosystem Value

DeGods’ market trajectory tells a cautionary tale about NFT volatility. The project’s floor price has experienced a dramatic decline from its 2023 peak of approximately $37,000 to current levels hovering around $1,000. Beyond digital asset management, DeGods has pursued diverse ecosystem investments, notably acquiring stakes in the BIG3 professional basketball league in 2022. These ventures reflect the project’s attempt to build value beyond traditional NFT trading, though the market performance suggests investors maintain heightened scrutiny regarding long-term utility and adoption prospects for Frank and DeGods’ initiatives.