I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.
There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.
The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:
“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”
His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasicI was listening to one man of God preach, and he made a statement that really touched me at the time, he said that history will continue to repeat itself, not because new things and way to do things are not coming, but because men have refused to learn from their past, and the past of others.
Gambling is very addictive when done careless, and because men have refused to listen and learn, the gambling industry will continue to witness such sad gambling experiences, stories and so on.
And again, it's really unfortunate that innocent people had to lose their hard earned money simply because one dude failed to control himself with his gambling desires, really unfortunate, and this goes a long way to show how unfair like really is after all..