Nick Drakon, the CEO of the crypto research and education platform Revelo Intel, has resigned after being robbed at gunpoint and forced to transfer company and investor funds.
Incident and Resignation
Nick Drakon reported in a September 5 X post that he was targeted by a sophisticated group. 'The group was specifically interested in crypto assets and knew the deposit addresses belonging to the crypto businesses I operate,' he wrote. Drakon was forced at gunpoint to log into multiple crypto accounts and transfer funds. Consequently, he lost his personal funds, Revelo’s working capital, retained earnings, and funds from Revelo Ventures, the firm's investment arm.
Recovery Plan
Drakon has forfeited his interest in Revelo to return some of that money to Revelo Ventures members, while 30% of the company’s generated profits will also go to affected members. He apologized to Revelo Ventures members who lost money in the robbery and admitted to 'severe mistakes' that made him a target.
Crypto World Incidents
The incident with Drakon comes weeks after four suspects allegedly kidnapped and murdered a foreign national in Ukraine, stealing $170,000 of Bitcoin. Bitcoin cypherpunk Jameson Lopp noted that many criminals identify potential victims through social media posts, meetups, and conferences. Lopp strongly advises against peer-to-peer trades, flaunting wealth on social media, and wearing crypto-branded clothing.
Following the incident, former Chief Operating Officer Vu Benson will replace Nick Drakon as the new CEO of Revelo Intel. It is important to remain cautious and vigilant in the world of cryptocurrencies.
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