A contributor to the Solana-based decentralized exchange Cypher known as Hoak via a public statement, confessed to misappropriating and gambling away funds that were recovered following an exploit of the protocol. Another contributor to Cypher, known as Barrett, discovered that Hoak had withdrawn various cryptocurrencies including ETH, WSOL, and BONK across 36 separate transactions from Cypher’s redemption contract.
This contract was set up specifically to allow users to reclaim lost assets from the exploit. The total amount taken by Hoak was approximately $260,000, as calculated by The Block at current cryptocurrency prices. The revelation has shocked the community, especially considering the significant efforts put into recovering and securing these funds post-exploit.
Community Reaction and Hoak’s Confession
Upon uncovering the unauthorized transactions, Barrett immediately reported the matter to law enforcement. In a candid social media post, Hoak admitted to the accusations, s
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