Former Revelo Intel CEO Transfers Company Funds to Extortionists

Nick Drakon, the former CEO of the educational and research crypto platform Revelo Intel, fell victim to an armed extortion attack.

It’s been almost 4 years since I entered the crypto space as a somewhat “public figure” and my time here has been mostly fantastic. I have met hundreds of interesting and kind people, some of whom I now consider great friends.

My interactions with 99.5% of folks in the crypto…

— Nick Drakon (@NickDrakon) September 5, 2024

He recounted that unknown assailants tracked him down and forced him at gunpoint to transfer funds from personal and corporate cryptocurrency wallets. The thieves also threatened Drakon’s wife and child.

“The group was particularly interested in crypto assets and knew the deposit addresses belonging to the business I manage,” he wrote.

The stolen assets included personal savings, working capital, and undistributed profits of Revelo Intel, as well as funds from the firm’s investment division, Revelo Ventures.

Drakon indicated that employees of his company might have been involved in the attack.

“There is some evidence to suggest that someone in the Ventures division is either part of the group or passing information to them,” the businessman noted.

He provided no further details about the incident to avoid jeopardizing the ongoing investigation and putting his family at “even greater risk.”

In light of the situation, Drakon stepped down as CEO of Revelo Intel and relinquished his stake in the company. The former COO, Vu Benson, became the new head of the firm.

By now, it’s widely known that an unfortunate event occurred affecting @ReveloIntel and Revelo Ventures. Specifically, it involved Nick and his family — details which are his to share, not mine (see QT).

I’ve only been in this space for 3 years which, compared to most of you,… https://t.co/uMWDbCNBL2

— Vu Benson (@Vu_Benson) September 6, 2024

Thirty percent of Revelo Intel’s profits will be allocated to compensate affected investors.

Drakon admitted to making “serious mistakes” that made him a target for criminals.

Earlier, ForkLog reported that Ukraine’s cyber police detained four individuals suspected of extorting 250,000 USDT from an online business owner.