Solana ecosystem DEX Cypher developers admit to misappropriating funds recovered from the exploit redemption contract
ChainCatcher news, a developer of the Solana ecosystem DEX Cypher, Hoak, admitted through a public statement to misappropriating and gambling with funds that were recovered after the protocol was attacked. Another contributor to Cypher, Barrett, discovered that Hoak had extracted various cryptocurrencies, including ETH, WSOL, and BONK, in 36 independent transactions from Cypher's redemption contract.
It is reported that the contract was specifically established to allow users to recover lost assets from the exploit. Hoak's total amount is approximately $260,000.
Previous news, Cypher was attacked, resulting in a loss of nearly $1 million in cryptocurrency.
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