Insider at Solana’s (SOL) Cypher Protocol Admits to Stealing $300K

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Hoak’s admission comes one day after Cypher’s founder Barrett accused him of systematically draining troves of valuable cryptos from the protocol’s redemption contract over multiple months, beginning in December. Citing on-chain data, Barrett said Hoak ultimately sent assets worth around $300,000 (at current market prices) to Binance, presumably to cash them out.



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