A new character, a rogue scientist - ninja from a long - forgotten clan, could be the main villain. This ninja has been exiled for his unethical experiments. He creates a powerful Frankenstein - like creature and uses it to terrorize villages. His goal could be to prove that his way of mixing different ninja powers through this Frankenstein - like creation is the future of the ninja world. Naruto would be the one to oppose him as he believes in the natural way of developing one's power. He would have to figure out how to defeat this villain and his creation.
Danzo could be a great main villain in a Naruto Frankenstein fanfiction. He's always been power - hungry and secretive. He might use the concept of creating a Frankenstein - like being to gain more power for Konoha in his own twisted way, but really it's all about his own control. He could be using parts of dead ninja's abilities or something like that, and Naruto would have to stop him.
Another possibility is that the main villain could be a spirit or entity that has been trapped for centuries. It uses its influence to make the Hidden Leaf Village conduct 'experiment 101' on Naruto. The spirit hopes to use Naruto's body as a vessel to be reborn into the world and wreak havoc. So it manipulates the events and people involved in the experiment from the shadows.
It could be Orochimaru. He might be interested in stealing the exosuit to enhance his own powers and immortality research. He could see the exosuit as a new way to achieve physical enhancements beyond what his current jutsu can do.
Orochimaru could be a likely main villain. He has always been interested in Naruto's power and body. Maybe he finally devises a plan to kidnap Naruto and use his body for his own reincarnation experiments.
It could be Orochimaru. He's always interested in new forms of power and experimentation. He might see Wolverine as an interesting specimen to study and try to extract his healing factor or adamantium for his own purposes. This would put him in direct conflict with both Wolverine and Naruto, who would naturally oppose Orochimaru's evil plans.
Madara Uchiha might be the main villain. He has powerful time - related abilities in the original series. He could use his Mangekyo Sharingan or other powers to freeze Naruto in time. His goal could be to disrupt the balance of power in the ninja world. With Naruto out of the picture, he can more easily carry out his plans to reshape the world according to his own vision. He might see Naruto as a major obstacle to his grand plan, so he freezes him to eliminate the threat.
It could be Danzo. He might have some hidden motives and manipulate situations to make Naruto look like a threat, forcing Minato to arrest him.
It could be Orochimaru. He's always been interested in obtaining power and immortality. The Blade of the Immortal would be a great addition to his collection of powerful items. He could try to steal it from Naruto if he knew Naruto had it.
Perhaps a ninja who has a grudge against Naruto because he once ate all the ramen at a festival, leaving none for the ninja. So this ninja decides to target Ichiraku Ramen and tries to put a curse on the ramen that would make anyone who eats it sick. Naruto has to figure out how to break the curse and stop the ninja.
It could be a rogue ninja who was once a student of a great fire - style master but turned evil. He wants to use the power of the 'fire fist' to destroy all the ninja villages and rule over the world.
Danzo could be a likely villain. He was always power - hungry and had his own secret agendas. He might see Naruto and Temari as threats or simply use them as scapegoats for a crime he committed himself in order to gain more control over the Leaf Village or other ninja villages.