A member of the Cypher team stole $260,000 intended to reimburse traders who lost assets after the August 2023 hack.

The team member, known as Hoak, confessed to the theft on May 14, attributing his actions to a gambling addiction.😄  Hoak conducted 36 transactions involving Ethereum, Bonk, Wrapped Solana, and other cryptocurrencies from the reimbursement contract, which initially contained $600,000.

"Never could have guessed that a core member left after the hack to rebuild the project would steal the refund funds," wrote another member of the Barrett team.

People blame banks, but easily trust their funds random platforms and gambling addicted guy=) $SOL $BONK