Nikolas Sargeant
Nick Drakon, CEO of crypto research platform Revelo Intel, has resigned after being robbed at gunpoint. He was forced to transfer personal, company, and investor funds to the thieves.
"I was targeted and robbed by a sophisticated group,” Drakon wrote in a Sept. 5 post on X (formerly Twitter). The robbers, who were specifically after crypto assets, knew the deposit addresses for Drakon’s crypto businesses. He was coerced at gunpoint to log into multiple accounts and transfer funds.
Drakon reported that his personal funds, as well as Revelo Intel’s capital and retained earnings, were stolen. The attackers also took funds from Revelo Ventures, the company’s investment arm. Drakon said they threatened the lives of his wife and eight-month-old son during the ordeal.
He further suggested that individuals within Revelo Ventures may have been involved in the robbery, though he chose not to disclose further details, fearing it could disrupt the investigation and endanger his family. Vu Benson, the company’s former COO, will replace Drakon as CEO.
Recovery Plan for Stolen Funds
To address the losses, Drakon has relinquished his stake in Revelo Intel to help return some of the stolen funds to Revelo Ventures members. Additionally, 30% of the company’s future profits will go toward compensating those affected by the robbery.
Drakon admitted to making "severe mistakes" that left him vulnerable and expressed regret to Revelo Ventures members who suffered financial losses due to the crime.
Growing Threats in the Crypto Space
The robbery occurred just weeks after the alleged kidnapping and murder of a foreign national in Ukraine, in which $170,000 worth of Bitcoin was stolen. This incident highlights the increasing risks faced by high-profile crypto holders.
Bitcoin advocate and cypherpunk Jameson Lopp warned that criminals often target victims through social media activity, meetups, and conferences. Lopp advises avoiding peer-to-peer trades with untrusted individuals, flaunting wealth online, and wearing crypto-branded clothing to minimize exposure to potential threats.
