Nick Drakon, CEO of the crypto research firm Revelo Intel, has resigned following a violent robbery in which he was forced to surrender personal, company, and investor funds at gunpoint.
Drakon revealed the incident on September 5, saying, "I was recently targeted, surveilled and robbed by a highly sophisticated group."
The perpetrators appeared to know the deposit addresses of the businesses he managed, forcing him to access and transfer funds from several accounts.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How Can You Earn Money With Axie Infinity? (AXS Animated Explainer)
The thieves stole not only Drakon's personal savings but also Revelo Intel's operational capital and profits, along with assets from Revelo Ventures, the company's investment division.
Drakon also mentioned that his wife and their eight-month-old son were threatened during the ordeal.
He suggested that individuals connected to Revelo Ventures may have been involved in the crime. However, he chose not to release further details to avoid interfering with the ongoing investigation and to protect his family from potential further harm.
As a result of the attack, Drakon has stepped down, with the former chief operating officer, Vu Benson, taking over as the new CEO of Revelo Intel.
Drakon acknowledged the gravity of his mistakes that contributed to him being targeted, expressing deep regret to the members of Revelo Ventures who suffered financial losses from the incident.
To mitigate the financial damage caused by the robbery, Drakon has surrendered his ownership stake in Revelo Intel. Additionally, 30% of the company's future profits will be allocated to compensating those affected by the theft.
This incident highlights the severe personal and financial risks that can emerge in the world of cryptocurrency.
In other news, four individuals between the ages of 14 and 39 were arrested in Hong Kong this July for their involvement in a crypto scam that led to $1.4 million in losses.
