Trader Frogman Loses $4 Million in Solana Wallet Drain

Trader Frogman lost about $4 million in tokens during a suspected drain of his Solana wallet on the first morning of TOKEN2049, putting a major security incident at the center of the crypto conference.

The tokens left the wallet at 4:14 p.m. ET the previous day (20:14 UTC), corresponding to 4:14 a.m. Singapore time. They were then sold in four equal lots over the next nine minutes.

The tokens left the wallet and were rapidly sold, while the trader said he found no sign of a breach on his phone or email.

TOKEN2049 is being held in Singapore, where the incident unfolded during the event’s opening morning.