Crypto Trader Frogman Loses About $4 Million in TOKEN2049 Hack
Two wallets were compromised while Frogman was in Singapore. Stolen tokens were converted into Ether, BNB and Solana before moving through multiple services.
Crypto trader Frogman lost an estimated $4 million after two wallets were compromised while he was in Singapore for TOKEN2049, highlighting the speed at which stolen digital assets can be moved.
The stolen holdings included 1.43 million BP valued at about $1.77 million, 13.96 million MarsCoin worth roughly $1.55 million and 3.7 million Cash Cat valued at approximately $515,000. Six additional tokens were also involved, but the total value of those holdings was not specified.
The assets were converted into Ether (ETH), BNB and Solana (SOL), then routed through Privacy Cash and Chainflip. Blockchain activity was detected about five hours before Frogman publicly confirmed the compromise.
“I’m not yet sure how this happened, but I’m currently in Singapore,” Frogman said. He thanked the people assisting with the investigation and said he would share more information.
The technical cause of the breach has not been established, and no recovery, freeze or return of the funds has been confirmed.
Simon Yoon
ReporterSimon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.