The insider’s exploit went unnoticed for months, despite over 36 individual transactions.
Pseudonymous Cypher Protocol developer Hoak has confessed to stealing nearly $300,000 worth of user funds and gambling them away.
The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:
Hoak’s confession follows a revelation by the pseudonymous core contributor Barrett_io the day prior regarding the absence of funds in a post on May 13th.
