WonderFi CEO Kidnapped in Toronto, Released After $1M Ransom Payment

TORONTO — The CEO of Canadian cryptocurrency firm WonderFi, Dean Skurka, was kidnapped in downtown Toronto on Wednesday during rush hour and later released after paying a $1 million ransom, according to CBC reports. Skurka was reportedly forced into a vehicle and remained captive until the electronic transfer was made.

This incident is part of a worrying trend targeting high-profile figures in the cryptocurrency space. A security firm informed the CBC that Skurka’s kidnapping marks the 171st case of physical violence intended to seize digital assets.

The kidnapping occurred a day after WonderFi disclosed its third-quarter earnings, revealing $41 million CAD in revenue over nine months. Skurka’s firm, one of Canada’s leading publicly traded crypto companies, has significant backing, including from Shark Tank co-host Kevin O’Leary, as reported by Cointelegraph.

The timing of the incident coincided with a surge in Bitcoin’s valuation, which climbed to a record high of over $76,000, intensifying interest and scrutiny around digital assets.

While Skurka was released uninjured, the ordeal highlights the growing security challenges facing leaders in the cryptocurrency sector. Law enforcement agencies in Toronto are investigating the case to identify and apprehend those responsible.