Crypto Trader Frogman Loses Over $4M in TOKEN2049 Wi-Fi Hack

The scale of the loss and the conference setting matter because it turns a routine reminder about hot-wallet hygiene into a concrete case of targeted, event-specific social engineering — the malware disguised as cybersecurity training is the notable twist, since it weaponizes the instinct to learn about safety. This affects traders and attendees at large crypto gatherings, where public Wi-Fi and side events create a wide attack surface, and it puts organizer vetting of side events in question. The open question is whether police action yields attribution or recovery, and whether conference organizers adjust how they screen third-party sessions.