I just reviewed a case that probably many in the crypto community prefer to forget. Nikolai Mushegian, co-founder of MakerDAO, was found dead in October 2022 on a beach in Puerto Rico under circumstances that never fully became clear.

The strange part: hours before his death, Mushegian posted a series of quite disturbing tweets. He talked about intelligence agencies, human trafficking networks, extortion. He said they wanted to frame him and torture him. Later, his body was found in Condado.

Local authorities said there was nothing suspicious. A small laceration on the skull, nothing more. They pointed out that the beach has dangerous currents and there have been several drownings before. Case closed, apparently.

But here’s what intrigues me: close friends described Nikolai Mushegian as a brilliant guy, though with mental health issues. Some crypto billionaires, like Brock Pierce, suggested it might have been self-inflicted. Others simply didn’t believe it.

And in the crypto community, this case never really died. People continue questioning the timing of those last tweets, the speed of the conclusions, the lack of clear answers. Conspiracy theories have been floating around on Discord and Twitter ever since.

Nikolai Mushegian became one of those stories that the industry prefers not to mention. But every so often, it resurfaces, reminding us that in this space, there are still too many unanswered questions.