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Corporate fraud stories

Aug 1, 2026

Bitquery CEO Dionysios Karakitsos accused of stealing $5M from crypto data firm, deleting expense records

Dionysios 'Dean' Karakitsos, 57-year-old CEO and co-founder of cryptocurrency data company Bitquery, allegedly embezzled more than $5 million from his own company and deleted 194 expense records before abruptly resigning.

Aug 1, 2026·2 sources

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Top claims

▪The alleged embezzlement scheme began around 2022, when investors put approximately $8 million into Bitquery.
▪Dionysios "Dean" Karakitsos has denied the allegations, stating he strongly disagrees and intends to respond through the legal process.
▪Dionysios "Dean" Karakitsos allegedly told investors that Bitquery had between $5 million and $6 million in the bank, despite the company generating only about $2 million in revenue with similar operating expenses in 2024 and 2025.

Subtopics

Crypto regulation

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