Toronto police are investigating the kidnapping of Dean Skurka, CEO of WonderFi. 
Skurka was abducted in downtown Toronto during rush hour on Wednesday, Nov. 6. He was later released after a $1 million ransom was paid electronically, <a href="https://www.cbc.ca/news/canada/toronto/kidnapping-toronto-businessman-cryptocurrency-1.7376679" target="_blank" rel="nofollow">per CBC</a>. The incident occurred near University Avenue and Richmond Street West just before 6 p.m.&nbsp; 
Reports indicate that the suspects forced Skurka into a vehicle and demanded a ransom. He was later found unharmed at Centennial Park in Toronto. 
In an email statement sent to CBC, Skurka confirmed he was safe and reassured clients that WonderFi’s funds and data remained secure. 
In 2023, ransomware gangs <a href="https://crypto.news/crypto-ransomware-payments-surpassed-1b-in-2023-chainalysis-says/" target="_blank">set a record high</a>, extorting over $1 billion in crypto payments. Chainalysis data showed a 10% increase from 2021, highlighting ransomware as a growing issue over recent years. 
 You might also like: <a rel="" href="https://crypto.news/2-uk-men-convicted-of-crypto-investment-fraud/"> 2 UK men convicted of crypto investment fraud </a> 
<h2 class="wp-block-heading" id="no-further-details">No further details</h2> 
Police continue their investigation, but no further details about the suspects or leads have been disclosed. 
WonderFi, a Toronto-based financial firm specializing in digital assets, announced last year that it holds a significant share of regulated cryptocurrency exchanges in Canada. 
This case echoes similarities to an incident in Malaysia in July, where two people <a href="https://crypto.news/malaysian-police-pursuing-four-suspects-after-1-2m-crypto-kidnapping-ransom/" target="_blank">were kidnapped</a> in Cyberjaya, and $1.2 million in cryptocurrency was paid as ransom. 
 You might also like: <a rel="" href="https://crypto.news/sec-trying-to-dismiss-three-kraken-defenses-in-lawsuit/"> SEC trying to dismiss three Kraken defenses in lawsuit </a>

Crypto CEO kidnapped in Toronto, $1m ransom paid for release

Table of Contents

crypto.news

Other articles published on Nov 7, 2024

Asian crypto traders profit from Trump’s win, China’s 2025 CBDC deadline: Asia Express

SuperEx丨2025: The Most Crypto-Friendly Congress in History

Weekly Article Recap: 10/21-10/25

Dogecoin Surges Amid Musk and Trump Connections

ETH’s Recent Bounce Explained: Is This the Start of a Sustainable Trend?

Bybit Web3 and Aptos Kick Off APT Ecosystem Airdrop

Join our free newsletter for daily crypto updates!