🚨#CryptoNews: Cypher Protocol's core contributor, "Hoak", admits to stealing and gambling away $260k of the project's cryptocurrency. 😱 The funds were part of a recovery from a $1m exploit last year.

🎲 Hoak blames a "crippling gambling addiction" and unchecked "psychological factors" for his actions.

🔍 Fellow contributor Barrett exposed Hoak after discovering suspicious transactions linked to his wallet. Law enforcement has been notified.

💔 Hoak expressed deep remorse for his actions, acknowledging the impact on personal and professional relationships.

🔄 Despite the setback, Cypher Protocol has implemented a recovery strategy to reimburse affected users.

💬 What are your thoughts on this? Let's discuss below! #DeFi #Web3 #DAO #Layer2