The CEO of crypto research and education platform Revelo Intel has announced his resignation after he was forced at gunpoint to drain his crypto accounts and hand over investor funds.

In a lengthy post to X (formerly Twitter), Nick Drakon claims that a sophisticated group of crypto-savvy thieves — probably including a spy planted within his own syndicate — tracked his movements and identified the wallets associated with his business.

The group then confronted Drakon, threatening him, his wife, and his eight-month-old son, and forcing him to empty his wallets and log into custodial accounts.

According to Drakon, the group “was specifically interested in crypto assets” and stole “personal funds, Revelo Intel working capital and retained earnings, as well as Revelo Ventures (an investment syndicate) funds for deals awaiting settlement.”

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In the tweet, the former professional poker player admitted that he had failed to prioritize his privacy, especially as the manager of others’ funds.

“These mistakes are unacceptable for someone in my position to make,” he said. “I own those mistakes and will regret making them for the rest of my life.”

He added, “My focus right now is ensuring the safety of my family, assisting law enforcement in apprehending the culprits, and to facilitate recovery or payback of funds to Ventures members.”

Drakon will be replaced as CEO by Revelo’s COO Vu Benson.