Former Bitquery CEO Allegedly Misappropriated $5 Million and Deleted Financial Records
Source：
timesofindia.indiatimes.com
According to The Times of India, cryptocurrency data company Bitquery filed a lawsuit at the New York Manhattan Supreme Court, alleging that its former CEO and co-founder Dionysios "Dean" Karakitsos transferred over $5 million to accounts belonging to himself and related parties since 2022 by leveraging exclusive control over the company's financial accounts. Before resigning in October 2025, Karakitsos allegedly deleted 194 expense and bill records in the QuickBooks system and tampered with other financial data to conceal the transfer activities. Additionally, he was accused of misrepresenting company account balances to investors as $5 million to $6 million, while the company's actual annual revenue was only about $2 million. Karakitsos currently denies the aforementioned allegations, and the company has appointed co-founder Aleksey Studnev as the new CEO.
