Sunday, July 13, 2025

Was Maker DAO'sNikolai Mushegian Wrongfully Silenced?

The Unsettling Last Words of a Crypto Visionary

The Nikolai Mushegian Case Deserves a Real Investigation

I recently dove into one of the most disturbing cases in crypto history that isn't getting nearly enough attention. Nikolai Mushegian, the brilliant mind behind Maker DAO and a pioneering figure in decentralized finance, drowned in Puerto Rico on October 28, 2022. What makes this case so unsettling is what happened just hours before his death.

At 1:57 AM that morning, Nikolai posted a chilling message claiming that "CIA and Mossad and pedo elite are running some kind of sex trafficking entrapment blackmail ring out of Puerto Rico and Caribbean islands." He went on to say, "They're going to frame me with my laptop planted by my ex-girlfriend who was a spy. They'll torture me to death."

Hours later, he was found dead.

The official investigation ruled his death as an accidental drowning, citing the dangerous rip currents at Coronado Beach where his body was found. His associates, including crypto entrepreneur Brock Pierce, suggested he had mental health issues that may have contributed to "reckless behavior."

But here's where I think something doesn't add up. In legal terms, statements made near the time of death alleging threats or duress are evaluated under what's called the "dying declaration" exception to hearsay rules. These statements are considered highly credible evidence – similar to a 911 call. They're not dismissed as conspiracy theories; they're taken seriously.

Yet in Nikolai's case, his final warning was written off. No serious investigation followed.

What struck me as I researched this case was how Nikolai used a blockchain-based Twitter client called Twitch to post his final message. As a blockchain pioneer, he understood the importance of immutability – of creating a record that couldn't be erased or altered. He made sure his final warning would be permanently recorded.

The timing is also noteworthy. With recent public interest in high-profile trafficking cases and the release of various files and testimonies, Nikolai's claims about trafficking rings in Puerto Rico take on new significance. These aren't just random accusations – they're specific allegations made by someone deeply embedded in financial technology innovation.

Nikolai wasn't just any crypto developer. He co-founded Maker DAO in 2015 and contributed significantly to the development of DAI, the first decentralized stablecoin backed by collateralized assets rather than fiat currency. His work advanced smart contract technology, enabling decentralized lending protocols that disrupted traditional banking systems.

He was also a supporter of Bitcoin's original vision, advocating for Bitcoin SV as representing "the immutable original Bitcoin protocol" with unbounded scaling capabilities. He understood the power of blockchain technology and its potential to challenge established power structures.

I believe Nikolai deserves better than to have his death dismissed as an accident without proper investigation. When someone makes specific allegations under duress, and then dies the same day, that should trigger alarm bells – not a rush to close the case.

I'm calling for Kash Patel and the FBI to reopen this investigation and take Nikolai's final message seriously as material evidence. Whatever the truth may be, his case deserves a thorough and unbiased examination.

Check out the full video here.

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