Bitquery co-founder accused of embezzling 5 million dollars from the company and deleting evidence before leaving

According to the New York Post, a blockchain entrepreneur is accused of embezzling over $5 million from his own company and deleted 194 expense records before suddenly resigning.

57-year-old Dionysios "Dean" Karakitsos is accused of draining Bitquery Inc. (a company that tracks cryptocurrency values and fund flows). A related lawsuit has been filed in Manhattan Supreme Court.

Karakitsos is a co-founder of the company and served as CEO, director, and financial officer until 2025. He is accused of continuously transferring company funds into his personal accounts over the years. Karakitsos later operated a prediction market platform called Assymetrix.

Bitquery filed a lawsuit in June seeking the return of at least $5 million allegedly stolen. The company stated that it is seeking additional compensation to cover legal fees.