Dean Skurka, the CEO of Toronto-based crypto company WonderFi Technologies, was kidnapped on Wednesday evening in downtown Toronto. The incident occurred near University Avenue and Richmond Street just before 6 p.m., during rush hour.
According to Toronto Police, Skurka was forced into a vehicle by suspects who demanded a $1 million ransom. Fortunately, he was later found unharmed in Centennial Park, Etobicoke, after the ransom was paid electronically.
Skurka later confirmed the incident to CBC Toronto, stating, “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.”
This kidnapping is part of a growing trend in which criminals target individuals involved in cryptocurrency for ransom. Jameson Lopp, a security expert, notes that this is the 171st known case of physical violence being used to steal cryptocurrency.
Lopp points out that as the price of Bitcoin rises—hitting a new high of over $75,000 US on the same day as the kidnapping—such crimes tend to increase. While incidents like this are rare, Lopp warns that many high-profile crypto figures often don’t have the security measures necessary to protect themselves from such attacks.
WonderFi’s Q3 earnings report, showing a 153% increase over last year, was released on the same day as the incident, adding to the company’s high visibility. Toronto Police are investigating, but further details have not been released.
This incident highlights growing security concerns in the crypto world as digital assets become increasingly valuable.
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