Tag: theft

  • Bitquery Co-Founder Accused of Stealing $5M, Deleting 194 Financial Records

    Bitquery Co-Founder Accused of Stealing $5M, Deleting 194 Financial Records

    Bitquery, a cryptocurrency data provider, has filed a lawsuit against its co-founder Dionysios “Dean” Karakitsos, alleging he stole over $5 million from the company and deleted 194 financial records before resigning in October 2025. The lawsuit was filed in Manhattan Supreme Court in June 2026.

    According to the complaint, Karakitsos controlled the company’s accounts and allegedly transferred funds to accounts linked to himself and associates. The company claims that before his resignation, he deleted 194 expense and bill records from QuickBooks, which contained evidence of the transfers. Other entries were reportedly altered to conceal the transactions.

    Bitquery is seeking at least $5 million in damages, additional compensation, and access to its banking credentials, which Karakitsos has not returned. The company has since appointed co-founder Aleksey Studnev as its new CEO.

    The allegations reportedly date back to around 2022, after investors put approximately $8 million into Bitquery. Karakitsos allegedly told investors the company held between $5 million and $6 million in bank accounts, but Bitquery claims its actual revenue was near $2 million during 2024 and 2025, with operating costs close to that figure.

    Karakitsos has denied the allegations and plans to defend himself in court. “I strongly disagree with the allegations and intend to respond through the legal process,” he said. The case remains a civil lawsuit, and no criminal charges have been filed.

    The dispute highlights concerns about financial controls in startups where a single executive has broad access to company funds and records.

  • Cryptocurrency Trail Leads Police to Pokémon Card Theft Suspect

    Cryptocurrency Trail Leads Police to Pokémon Card Theft Suspect

    The popularity of the Pokémon Trading Card Game (TCG) has turned rare cards into high-value collectibles, attracting both enthusiasts and criminals. A recent case highlights how digital currency transactions can become key evidence in theft investigations.

    Police arrested Christian Elam after tracing cryptocurrency payments linked to a scheme involving stolen Pokémon cards. Investigators said the digital currency trail was one of the most important clues in the case.

    According to reports, Elam attempted to steal a rare Poncho-wearing Pikachu promo card valued at approximately $24,000. The card was listed for $24,200 on Facebook Marketplace. During a meetup on June 14 at the Evesham Township Police Department’s safe exchange zone in Marlton, New Jersey, Elam sent the listed amount using cryptocurrency, which later proved to be fraudulent. Authorities followed the payment records to identify and arrest him.

    This incident serves as a warning for collectors. Experts recommend keeping detailed purchase records, including photos, grading details, receipts, and purchase dates to prove ownership. Valuable cards should be stored securely. When buying or selling, collectors should verify the other party’s identity and use trusted marketplaces whenever possible.

    As Pokémon cards are expected to retain their value, criminal activity around them is likely to increase. The arrest of Christian Elam demonstrates that cryptocurrency transactions are not always anonymous and can serve as evidence in criminal investigations. For collectors, careful record-keeping, secure storage, and verified sales remain the best ways to protect a valuable collection.