The sale of 16 DeGods NFTs from the Solana wallet of former DeGods CEO Rohun Vora, also known as Frank DeGods, has triggered a vigorous discussion within the cryptocurrency community. Speculation has arisen regarding his motives and the timing of the unexpected sale, which occurred just three days following Frank's official resignation as DeGods CEO.
Frank DeGods, who founded the company, publicly declared his decision to step down as CEO on May 12, 2025, through his X account. After three years of hard work and dedication, he expressed his pride in his accomplishments and eagerness to pass on the reins to the team. However, shortly after his resignation announcement, 16 DeGods NFTs were sold from Frank's Solana wallet on the Magic Eden platform, allegedly due to a compromise of his account.
According to reports from a Discord chat linked to the DeGods team, it was claimed that Frank's account was hacked, resulting in the theft and sale of the NFTs. Despite Frank and his team's stance that this was a cyberattack, the crypto community remains divided, with some doubting the authenticity of the claim and questioning the motives behind the sale. The timing of the incident, occurring right after Frank's resignation, has raised suspicions about whether it was a contrived move for Frank to exit the project without repercussions, particularly amidst the significant decline in DeGods' value.
While there are suggestions that the hack was orchestrated for Frank to "cash out" before further depreciation in NFT value, conclusive evidence supporting these allegations is lacking. The decrease in DeGods' value is reflective of the broader cooling sentiment in the NFT market post the 2021-2022 peak. Past controversies surrounding DeGods, such as its platform migration choices and perceived lack of innovation, have contributed to its diminishing prominence.
The uncertainty sparked by Frank's hack has left investors pondering the project's future prospects, with concerns about its recovery potential in light of these recent events.