According to the New York Post, Bitquery Inc. filed a lawsuit in Manhattan Supreme Court accusing co-founder Dionysios Karakitsos of embezzling $5 million in company funds and deleting 194 fee records before his departure. Dionysios Karakitsos, who served as Bitquery Inc.’s CEO, director, and financial officer until 2025, is alleged to have transferred company funds into his personal accounts. Bitquery Inc. is demanding that Dionysios Karakitsos return at least $5 million and cover legal fees.
Bitquery Sues Co-founder for Alleged Embezzlement of $5M
AiCoinShare
Summary
Bitquery Inc. filed a lawsuit in the Manhattan Supreme Court against its former CEO, Dionysios Karakitsos, alleging he embezzled $5 million in company funds. The case involves Chainalysis forensic tools as the firm seeks to trace the movement of funds through liquidity and crypto markets. Karakitsos is accused of transferring money to his personal account and deleting 194 expense records before departing in 2025. The lawsuit demands the return of at least $5 million, plus legal costs.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.