Frosties (NFT)
An 8,888-piece NFT collection whose two creators abruptly shut it down within hours of selling out in Jan 2022 and moved ~$1.1M to their own wallets. The U.S. DOJ charged Ethan Nguyen and Andre Llacuna with wire fraud and money laundering.
Also known as: Frosties, Ethan Nguyen, Andre Llacuna
Summary
Frosties was an NFT collection of 8,888 cartoon "ice cream" characters that sold out within about an hour in January 2022. Its creators abruptly abandoned the project hours later and transferred about $1.1 million in proceeds to wallets they controlled — a "rug pull". [1][2]
Charges
In March 2022 the U.S. DOJ arrested Ethan Nguyen and Andre Llacuna in Los Angeles and charged each with conspiracy to commit wire fraud and money laundering. Prosecutors said the pair had disguised their identities and were preparing a second NFT project ("Embers") expected to raise ~$1.5 million. [1][2][3]
Bracketed numbers refer to the numbered sources listed below.
Sources (3)
- Two men arrested for $1.1 million NFT 'rug pull' scam — The Verge
- Frosties criminal complaint — U.S. DOJ (SDNY)
- DOJ cracks down on 'rug pulls,' charging Frosties NFT founders — Cointelegraph
See also
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
Gala Games exploitTokensOn May 20, 2024 an attacker abused a privileged minter account on the GALA token contract to mint 5 billion GALA (≈$200M+ nominal) and dumped ~600M of them for ~$22M of ETH before Gala froze the address. Gala Games called it an internal access-control failure; the attacker later returned the ~$22M.
This page was last updated on Jun 15, 2026. View revision history.
