First this is not a question of if the manager should be held accountable for this incident or not but a question of responsibility, ad a campaign manager that such funds are entrusted your care the responsibility of protecting that funds and using them for what is meant for and achieving it 100% satisfaction of the client is very important for any reputable manager.
But this is not the case here, and in this situation even though the manager accepts the responsibility there is little that he can do judging from his many statements because he does not have a possible means of paying back.
I was also disappointed when I read this news yesterday, and this is o e of the early big hack/scam story for the new year 2023.