Crypto CEO Resigns After Kidnapping and Theft

Nick Drakon has stepped down as CEO of Revelo Intel, a crypto research and education platform, after revealing a shocking ordeal.

Drakon was reportedly kidnapped by a criminal gang that forced him to transfer both personal and company funds under threat of violence.

In a September 5 update on X, Drakon described the harrowing experience, noting that the attackers were specifically targeting his crypto assets and knew detailed information about his accounts. They compelled him to move funds from several crypto holdings. The criminals made off with his personal money, as well as funds from Revelo Intel and its investment branch, Revelo Ventures.

Drakon also revealed that his family was threatened during the incident, adding that he suspects some involvement from individuals within Revelo Ventures but chose not to elaborate to avoid jeopardizing the investigation or putting his family at further risk.

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Former COO Vu Benson will take over as CEO of Revelo Intel. To address the impact of the theft, Drakon is relinquishing his stake in the company and committing a portion of profits to reimburse affected parties. He expressed regret for the errors that made him a target and apologized to those who lost money.

This robbery follows a recent case in Ukraine where criminals allegedly murdered a foreign national and stole $170,000 in Bitcoin. Bitcoin expert Jameson Lopp warns that such crimes often exploit information shared on social media and advises caution with peer-to-peer transactions and public displays of wealth.