Security Token Startup Founder Arrested on Sexual Assault Charges, Toronto Police Say

Trevor Koverko resigned from the CEO role at Polymath on Feb. 8, his co-founder and interim successor said. He was arrested March 14, police said.

Mar 31, 2021 at 8:00 p.m. UTC
Updated Sep 14, 2021 at 12:34 p.m. UTC

The founder of a security token startup has been arrested on charges of sexually assaulting a minor, Canadian authorities said. 

Trevor Koverko, former CEO of Polymath, was taken into custody on March 14 by Toronto police, a spokesperson for the department, Caroline de Kloet, told CoinDesk Wednesday. He has apparently deleted his Twitter

Koverko has been charged with “sexual interference with a person under 16 years of age” (Section 151 of Canada’s Criminal Code) and “sexual assault” (C.C. 271), said de Kloet. 

Chris Housser, Polymath’s other founder and interim CEO, said Koverko resigned from his role at Polymath on Feb. 8, 2021, well before the arrest. 

“He doesn’t have any role with the company so any potential allegations are completely unrelated to Polymath,” Housser said.

A lawyer for Koverko could not immediately be located. The Toronto police spokesperson said Koverko is due in court on May 7. An initial virtual hearing took place on March 14. 

Koverko and Housser founded Polymath in 2017 as a firm that can support security tokens on its native Polymesh blockchain (though it originally operated on Ethereum). It raised $59 million through an initial coin offering in 2018.

Before working in the blockchain industry, Koverko was a fifth round draft pick of the New York Rangers hockey team.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Ethereum on Track for Testnet Merge in June

The testnet merge would allow developers to work on any potential risks or bugs ahead of Ethereum's move to a proof of stake network.

The testnet merge would allow developers to work on any potential risks or bugs ahead of Ethereum's move to a proof of stake network.

2
New York Bitcoin Miners Start to Give Up on State Amid Regulatory Uncertainty

The state was once a draw for miners, but environmental concerns are weighing on the bitcoin mining industry.

The state was once a draw for miners, but environmental concerns are weighing on the bitcoin mining industry.

3
Mining-Rig Maker Canaan Q1 Revenue More Than Triples

Canaan shares rose in premarket trading after first-quarter earnings beat one analyst's estimates.

Canaan shares rose in premarket trading after first-quarter earnings beat one analyst's estimates.

4
A16z Leads $15M Round for P2E Studio Azra Games

The blockchain gaming company is preparing to launch a fantasy collectibles and mass combat roleplaying game.

The blockchain gaming company is preparing to launch a fantasy collectibles and mass combat roleplaying game.