An anonymous contributor to the Cypher Protocol on Solana (CRYPTO:SOL), known as "hoak," has admitted to embezzling and gambling approximately $260,000 of the project's cryptocurrency, recovered from a previous $1 million exploit.

Hoak cited a crippling gambling addiction and unchecked psychological issues as the motives behind their actions.

This revelation has sparked concerns within the crypto community regarding trust and accountability among core contributors.

Discussions on enhancing security measures and ensuring transparency are likely to ensue following this disclosure.