CEO allegedly steals $5M from blockchain firm, deletes 194 expense records to cover tracks

A blockchain company CEO allegedly siphoned more than $5 million from the firm he was supposed to be running, then tried to erase the evidence by deleting 194 expense records before walking out the door. The case, reported by the New York Post, is the latest in a string of insider fraud allegations that continue to haunt an industry still trying to earn mainstream trust. What we know so far The allegations center on a tech entrepreneur who served as CEO of a blockchain firm. According to the report, the individual misappropriated more than $5 million from the company over a period that ended with an abrupt resignation. Before leaving, the CEO allegedly deleted 194 expense records in what appears to be a deliberate attempt to obscure where the money went. The identities of the CEO and the blockchain firm have not been publicly disclosed. That lack of detail makes it difficult to assess the full scope of the damage, including whether customers, investors, or token holders were directly affected. A familiar problem in an industry that promised to fix it The incident underscores a structural vulnerability in many blockchain startups. Unlike publicly traded companies subject to Sarbanes...