Odaily News Cypher Protocol contributor "hoak" admitted in an article on X platform on Tuesday that he stole nearly $500,000 of Cypher Protocol's community funds because of his gambling addiction. Hoak said: "I know that nothing I say or do may improve the situation-maybe except rotting in jail. It cannot be ignored that these allegations are true, and I took the funds and gambled them away. I didn't run away with it, and no one else did it." According to data shared by Cypher Protocol core contributor "Barrett", the stolen funds include $314,674 in USDT, USDC, and SOL, which were sent to Binance through wallets associated with hoak. In addition, the same wallet has accumulated more than $184,077 in ETH, RLB, ORCA, RAY, USDT, USDC, BONK, JitoSOL, mSOL, and WSOL. Hoak's public confession seems to have been triggered by a quietly conducted investigation on the Cypher Protocol Discord server. Hoak wrote: "First of all, I want to deeply apologize to everyone affected. I know that nothing can undo my behavior at this moment. I must face the consequences, and I will never try to see myself as a victim in any way. But this is the result of an uncontrollable gambling addiction and possibly a variety of other psychological factors that have not been controlled for a long time." (Decrypt) Earlier in August 2023, Solana Ecosystem DEX Cypher was hacked and lost about $1 million in cryptocurrency. Developers are trying to get in touch with the hackers to negotiate the return of the funds. Later, Cypher Protocol stated that 600,000 stolen funds had been successfully frozen in CEX, and the return of these funds would depend on the cooperation of the exchange and the seizure order issued by law enforcement.