McGimsey and others (2004) report that a rock fall was possibly mistaken for a volcanic eruption at Frosty during the summer of 2001. Their report: "AVO received several reports during the 2001 summer of possible eruptive activity at Frosty volcano. NWS observer in Cold Bay, Craig Eckert, took photos of what he described as an intermittent steam plume emanating from Frosty on July 8, 2001[See figure 8 in original text]. Inspection of records from nearby seismic networks revealed nothing unusual. Two days later, State Trooper pilot, Ron Kmiecik, reported atypical bare rock and dark material at the summit of Frosty, but no venting, steaming, or evidence of melting, specifically mentioning the absence of debris trails or channeling or melted snow. He described the material as a 'brown, rusty * * * not black and ashy like at Pavlof and Shishaldin, like red dust or crushed powder.' In the next several weeks, AVO received a couple of similar reports from local residents and pilots as well as inquiries about the possibility of impending volcanic activity. Craig Eckert reported on August 16 that on the previous day a strong sulfur smell enveloped Cold Bay when the wind was blowing from the southwest (i.e. from the direction of Frosty), and he sent additional photographs to AVO [See figure 9A-C in original text]. On August 28, 2001, AVO scientists working in the area flew over the volcano and observed nothing unusual and no indication of recent volcanic unrest. They noted that snow levels were uncharacteristically low - likely owing to the unusually warm summer - exposing the summit rocks for the first time in many years. The newly exposed rocks at the summit, and the possibility (likelihood) of minor rock fall avalanches may have been the cause for mistaken signs of volcanic unrest. They noticed no major landslide deposits, no unusual discoloration, and no sulfur odor."

From Cameron and others (2020): "Eruptive activity and volcanic unrest were not observed at Frosty Peak in 2016, but residents 15 km (9 mi) to the northeast in Cold Bay, Alaska, reported an avalanche to AVO on November 12. Cold Bay resident Michael Livingston sent AVO photographs of the avalanche and rockfall taken by Happy Kremer (fig. 24). These images show that a small part of Frosty Peak's bedrock spire collapsed and formed a prominent linear debris avalanche track across the snow.
"The Aviation Color Code and Volcanic Alert Level remained UNASSIGNED, because Frosty Peak is not seismically monitored by AVO and the avalanche was not initiated by volcanic activity. On November 14, AVO released an Information Statement about the event stating that, 'The collapse is not due to volcanic activity and was likely the result of the failure of unstable, altered, and weakened rock that makes up the summit of the volcano. Similar rock, ice, and snow avalanches have occurred previously at Frosty, most recently in 2001 (McGimsey and others, 2004).'"