Crypto CEO Kidnapped, Forced to Pay $1 Million Ransom

The CEO of Canadian crypto firm WonderFi Technologies, Dean Skurka, was reportedly abducted in downtown Toronto during rush hour on November 6 and forced to pay a $1 million ransom to secure his freedom, according to a CBC report from November 7.

Skurka was taken into a vehicle and later transferred the ransom money electronically. He confirmed the incident via email, assuring that while he was unharmed, no company funds or data were compromised.

The police are currently investigating the situation, but no further details have been disclosed. Skurka and WonderFi have yet to publicly address the matter. This incident highlights an unsettling pattern of crypto executives and influencers being targeted for ransom, often involving large sums of money.

In a similar case earlier this year, four suspects were arrested in Kyiv for the kidnapping and murder of a Bitcoin investor, resulting in the theft of $170,000 worth of Bitcoin. Additionally, six Malaysian nationals were charged in August for kidnapping a Chinese national and demanding $1 million in Tether.

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WonderFi, which is publicly traded on the Toronto Stock Exchange under the ticker WNDR, has a market cap of $75 million and is known for developing centralized exchanges and decentralized protocols. Its products include the WonderFi layer 2 blockchain and WonderFi Wallet.

The company reported holding $1.35 billion in assets under custody as of October 30 and owns several crypto-related businesses, including Coinsquare, SmartPay, Tetra Trust, and Bitbuy. Skurka previously served as President of Bitbuy until mid-2023.

Kosta Gushterov