Crypto Firm CEO Resigns Following Armed Robbery

Ex-CEO of Revelo Intel crypto firm Nick Drakon is investigating the possibility that the heist was an inside job in cooperation with the local authorities.

The CEO of Revelo Intel, a platform for cryptocurrency research and education, Nick Drakon, resigned after claiming he was forced to transfer investor, business, and personal cash at gunpoint.

In an X post from September 5, Drakon stated, “I was recently targeted, surveilled, and robbed by a highly sophisticated group.”

“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 said the robbers took money from Revelo Ventures, the company’s investment arm, and his savings, working capital, and retained earnings.

The robbers allegedly threatened Drakon’s wife and their 8-month-old son as well.

According to Drakon, “some evidence” suggests that Revelo Ventures employees were involved in the robbery. He chose not to publicly provide any further information to ensure that an investigation isn’t hampered, saying that doing so “may potentially put my family at further risk.”

Vu Benson, a former chief operational officer, will take Drakon’s position as Revelo Intel’s new leader.

Recuperation strategy

In addition to giving the impacted members 30% of Revelo Ventures’ income, Drakon has given up his stake in the company to reimburse some of that money.

He apologized to Revelo Ventures members who had lost money in the heist and that he had made “severe mistakes” that had made him a target.

The theft occurs a few weeks after four people are suspected of kidnapping, killing, and taking $170,000 worth of Bitcoin (BTC $547,784) from a foreign national in Ukraine.

Cypherpunk Bitcoin According to Jameson Lopp, many of these offenders usually use conferences, meetups, and social media posts to find new victims.

Lopp strongly warns against wearing apparel with cryptocurrency branding, displaying money on social media, and engaging in peer-to-peer trading, especially with someone you don’t trust.