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