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Cypher Protocol's success in rebuilding trust and securing new funding by 2024 end
5
Resolution / Starting Odds
Successful in securing funding/partnerships • 33%
Unsuccessful in securing funding/partnerships • 33%
Moderate success • 34%
Official press releases and partnership announcements
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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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Partial Implementation • 33%
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Partnership with major financial institution • 33%
Successful scaling test results • 33%
Grant fund fully allocated • 33%
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Original Bitcoin Protocol • 40%
Another New Protocol • 20%
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No significant change • 34%
Successfully disrupted most operations • 33%
Partially successful in disruptions • 33%
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Increased public controversies • 33%
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