Nick Drakon, the CEO of Revelo Intel, a crypto research and education platform, has resigned after claiming that he was compelled to transfer personal, company, and investor funds at gunpoint.
“I was recently the victim of a highly sophisticated group that targeted, surveilled, and robbed me,” Drakon stated in a post on X on September 5th.
“The group was specifically interested in crypto assets and knew the deposit addresses belonging to the crypto businesses I operate. I was forced, at gunpoint, to log into a number of crypto accounts and transfer funds out.”
He also stated that the thieves took his funds, Revelo’s working capital and retained earnings, and funds from Revelo Ventures, the firm’s investment arm.
The criminals also threatened Drakon’s wife and eight-month-old son, according to him.
According to Drakon, there is “some evidence” that members of Revelo Ventures were involved in the burglary. Nevertheless, he elected not to disclose additional information to prevent any potential obstructions to the investigation, stating that it “may potentially put my family at further risk.”
Drakon’s successor as CEO of Revelo Intel will be Vu Benson, who previously served as the company’s chief operating officer.
Plan for recovery
Drakon has relinquished his interest in Revelo to distribute a portion of the funds to Revelo Ventures members. Additionally, 30% of the company’s proceeds will be allocated to the affected members.
He asserted that he committed “severe errors” that rendered him a target and extended his apologies to the members of Revelo Ventures who suffered financial losses during the robbery.
The robbery occurred weeks after four suspects allegedly abducted and murdered a foreign national in Ukraine, seizing $170,000 in Bitcoin.
Cypherpunk and Bitcoin Jameson Lopp observed that numerous criminals typically identify potential victims through social media posts, conferences, and gatherings.
Lopp firmly discourages flaunting wealth on social media, wearing crypto-branded clothing, and engaging in peer-to-peer trades, particularly with individuals one does not trust.
