DeGods NFT Community Update
In a recent development within the DeGods NFT community, founder Frank, known in the crypto sphere as Rohun Vora, announced that he will be stepping down as CEO. Shortly after this decision, 16 DeGods NFTs were sold from his Solana wallet due to an apparent security breach, which he attributed to an attacker taking advantage of a compromised laptop used for trading. The hacker managed to sell these NFTs, fetching over 108 SOL, equivalent to nearly $19,000, including a particularly rare DeGod featuring a mythical helmet.
Speculations and Statements
Despite the timing of the NFT sales, many traders on X (formerly Twitter) speculated that Frank might have been liquidating his assets following his CEO announcement. However, he refuted this claim in an interview with Decrypt, emphasizing:
“I’m not planning to sell any of my DeGods holdings and I actually feel positive about the new team taking the project forward.”
Security Concerns and Future Plans
Frank expressed that he is still piecing together the details of the incident but believes that the compromise was limited to this particular wallet. He mentioned to Decrypt:
“It could have been much worse,”
highlighting that he plans to significantly improve his operational security as a result of this event.
The compromised wallet, which Frank had publicly disclosed back in October while gaining notoriety for his meme coin trading success, has proven to be a point of concern. Despite losing 16 NFTs, he reassured the community that he possesses many other DeGods NFTs stored in separate wallets. Moreover, Frank pointed out that the attacker could have found other, more lucrative methods to exploit the wallet rather than merely selling off the NFTs.
He showcased another one of his Solana wallet addresses, which contains assets worth over $50,000 in the DeGods ecosystem token, termed DEGOD. This move aims to reaffirm his ongoing commitment to the DeGods brand, even without the CEO title. Responsibility for leadership has now shifted to two new team members, Pasta and Chill, as Frank stated his eagerness to see how they will steer the project moving forward:
“I’m thrilled to pass the torch to this team and anticipate great things ahead.”
Background and Challenges
After an extended absence from the X platform since February, Frank returned to announce his resignation amidst swirling speculation about his trading and connections within the crypto community. DeGods began as a project on the Solana blockchain but grew into an engaged and passionate ecosystem, even branching out to include a Bitcoin Ordinals collection and investing in a team in Ice Cube’s BIG3 basketball league in 2022. However, it has faced its own share of controversies, especially related to its blockchain migrations and has been significantly affected by the downturn in demand that has impacted NFTs since the bull market of 2021-2022. Once boasting a floor price exceeding $37,000, its value has now plummeted to just over $1,000.
