ChainCatcher report, according to the New York Post, a blockchain entrepreneur is accused of embezzling over $5 million from his own company and deleting 194 expense records before abruptly resigning. Dionysios "Dean" Karakitsos, 57, is alleged to have drained funds from Bitquery Inc., a company that tracks cryptocurrency values and fund flows. A related lawsuit has been filed in the New York State Supreme Court in Manhattan. Karakitsos, a co-founder of the company, served as CEO, director, and financial officer until 2025. He is accused of systematically transferring company funds into his personal accounts over several years. Karakitsos later operated a prediction market platform called Assymetrix. Bitquery filed suit in June, demanding the return of at least $5 million allegedly stolen. The company states it is also seeking additional damages to cover legal expenses.
Bitquery Co-Founder Allegedly Embezzled $5M, Deleted Records Before Resignation
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Summary
A lawsuit filed in Manhattan’s Supreme Court accuses Bitquery co-founder Dionysios "Dean" Karakitsos of diverting over $5 million in company funds and deleting 194 expense records prior to his resignation in 2025. Filed in June 2026, the case seeks to recover the misappropriated funds amid ongoing CFT (Countering the Financing of Terrorism) scrutiny. Karakitsos is alleged to have transferred funds from Bitquery to personal accounts over several years while operating Assymetrix, a separate prediction market. The company is demanding at least $5 million in restitution. Liquidity and crypto markets remain under regulatory observation as such cases continue to emerge.
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