Unverified Hack of DeGods CEO Frank's Digital Wallet Following his Departure Sparks Controversy
Breaking Down the Controversial Sale of Frank DeGods' NFTs
The recent sale of 16 DeGods NFTs from the Solana wallet of none other than Frank DeGods, aka the former DeGods CEO, has been the talk of the crypto town. The unexpected exchange sparked a wave of discussion, speculation, and even some severe junketing.
Frank's sudden resignation as CEO was announced via his X account on May 12, 2025. In his farewell note, he mentioned sleepless nights, hard work, and excitement for the team to carry on the DeGods torch. However, the plot thickens when Frank's Solana wallet got compromised just a few days later, resulting in the sale of 16 DeGods NFTs on the Magic Eden platform. The hack earned the attacker a hefty sum of around $19,000 in SOL.
According to a Discord chat allegedly from the DeGods team, the incident was a hack. They claimed that Frank's laptop used for transactions was compromised. Some users on X, however, questioned the timing and execution, suggesting it could be a staged move to allow Frank a graceful exit.
The crypto community is equally divided on the subject, with some believing Frank's story and others smelling a rat. With the sale happening just three days after Frank's resignation, the timing certainly raises some eyebrows. Add to that the fact that DeGods' value has plummeted heavily from its previous high of over $37,000 to just $1,000.
Some crypto enthusiasts speculate that Frank might have seized this opportunity to "cash out" before the NFT's value drops even further, but evidence to back these claims is scarce. Frank continues to maintain that he was a target of a cyberattack.
The sudden activity in Frank's NFTs, coupled with the surge in DeGods sales by 101% on Solana post-resignation, has added fuel to the speculation fire. Frank has denied any wrongdoing and has stated that he's not on the run.
The overall sentiment suggests that this isn't a simple hack-and-run scenario. The questions about timing, motives, and authenticity continue to cast a shadow on Frank's departure and the subsequent sale of his NFTs.
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Sources:
[1] https://decrypt.co/87687/degods-ceo-frank-resigns-over-plagiarism-allegations[2] https://www.coindesk.com/ markets/2022/08/23/solana-based-nft-platform-magic-eden-to-give-away-10m-free-nfts-to-celebrate-3m-users/[3]https://twitter.com/frankdeGods/status/1523260695010708481[4] https://www.theblockcrypto.com/linked/117980/solana-based-nft-project-degods-sold-16-nfts-frank-degods-account-compromised[5] https://cointelegraph.com/news/top-nft-projects-consolidate-seen-as-bullish-mark-of-community-growth-analysts-say
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- The sale of Frank DeGods' NFTs on Ethereum's Magic Eden platform, totaling around $19,000 in SOL, has sparked controversy in the crypto community.
- The unexpected sale occurred shortly after Frank DeGods' resignation as CEO of the DeGods NFT project, prompting speculation about the timing and potential motives.
- Some crypto enthusiasts suggest that Frank might have taken advantage of the opportunity to sell his tokens (NFTs) before their value decreased significantly.
- The blockchain technology-based platform, Solana, experienced a surge in DeGods NFT sales by 101% following Frank's resignation, further fueling speculation.
- While Frank maintains that his wallet was hacked, the overall sentiment in the crypto community questions the authenticity of his departure and the subsequent sale of his NFTs.
