Dean Skurka, the CEO of Toronto-based cryptocurrency company WonderFi Technologies, was abducted on Wednesday evening near University Avenue and Richmond Street in downtown Toronto. The kidnapping occurred just before 6 p.m. during rush hour, when Skurka was forcibly taken into a vehicle by suspects demanding a $1 million ransom.
Toronto Police reported that Skurka was safely released after the ransom was paid electronically. He was found unharmed in Centennial Park, located in the Etobicoke area. Following his recovery, Skurka reassured the public in a statement to CBC Toronto: “The safety and security of all of WonderFi’s employees are paramount. Client funds and data remain safe, and were not impacted by this incident.”
The kidnapping highlights an emerging trend where criminals target high-profile cryptocurrency figures for ransom, with security expert Jameson Lopp noting that this marks the 171st case of physical violence aimed at stealing cryptocurrency. Lopp speculates that as the value of digital assets like Bitcoin—recently reaching a new high of $75,000—continues to rise, such incidents may become more frequent. He also warned that many crypto leaders lack sufficient security measures to protect themselves from these types of attacks.
The abduction took place on the same day WonderFi released its Q3 earnings report, showing a 153% year-over-year increase, further elevating the company’s public profile. While the investigation is ongoing, Toronto Police have yet to provide additional details about the case.
This event underscores the growing security risks faced by individuals in the cryptocurrency sector as the industry continues to grow in both value and visibility.
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