Cypher Protocol Internal Developer Confesses to Embezzling $300,000: Gambling Addiction Consumed Me
Cobra, founder of the DEX Cypher on Solana, publicly released a document on social media platform X yesterday (15), accusing protocol core developer “Hoak” of embezzling and stealing approximately $300,000 of user funds through a redemption contract created during the hacking incident in August last year. Hoak admitted to the accusation, claiming that it was due to a severe gambling addiction.
