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Community response to Hoak's involvement in Cypher Protocol by 2024 end
4
Resolution / Starting Odds
Forgive and keep involved • 25%
Forgive but not involve • 25%
Not forgive and not involve • 25%
Undecided • 25%
Community votes and official protocol announcements
Story
Cypher Protocol Developer Admits to Stealing $315,000 from Community Funds and Gambling It Away
May 15, 2024, 12:45 AM
Hoak, a core contributor to the Cypher Protocol, has admitted to stealing approximately $315,000 from the decentralized exchange's redemption contract and gambling it away. Hoak, who stayed on to help rebuild the project after a $1 million security incident in August 2023, confessed to having a crippling gambling addiction and engaging in similar conduct on other occasions. He expressed remorse for his actions. The stolen amount was taken from community funds.
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Strengthening of cooperative security measures • 33%
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Majority Neutral • 33%
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