Dean Skurka, CEO of blockchain and crypto firm WonderFi, was kidnapped, held for ransom, and released after paying $1 million. According to CBC and other sources, Skurka was reportedly kidnapped in the city of Toronto around 18:00 on Thursday.
Skurka was later released and found safe in Centennial Park. Police reports indicate that the kidnappers demanded a ransom, which was paid electronically.
Police Respond Quickly to Reported Abduction
Toronto police quickly responded to a call about a kidnapping at Richmond Street W. and University Avenue during rush hour. According to some witnesses, Skurka was forced into the car before making a random request.
A police spokesperson identified the victim as Dean Skurka, CEO and President of WonderFi. WonderFi is a Toronto-based company that owns Canada’s largest crypto exchange and invests in blockchain projects.
Toronto police are currently continuing their investigation and have not released any information about the abductors or other leads.
WonderFi CEO Dean Skurka. Image: The Logic
Customers and Investors’ Crypto Safe: Skurka
In an email to CBC last Thursday, Skurka shared that he was involved in the incident and is now safe. He also assured his customers that their data and funds remain secure.
Skurka’s kidnapping is the latest in a string of digital currency celebrities who have become victims of hacking. According to one company, the Toronto kidnapping was the 171st incident of violence against crypto people.
This latest kidnapping is similar to the Malaysian case last July, where two people were kidnapped and released with a $1.2 million ransom.
Last year, ransomware gangs and other hackers extorted more than $1 billion in cryptocurrency payments, a record high. According to Chainalysis, the amount released showed a 10% increase from 2021, suggesting that ransomware is now a major problem in the industry.
WonderFi Reports $41 Million CAD in 3Q Revenue
Skurka’s arrest comes just a day after his company reported its third-quarter earnings. Toronto-based WonderFi reported $41 million in operating profit for the past nine months. The company’s performance coincides with the rally of the Bitcoin market, which is now trading above $76k.
WonderFi is a publicly listed Toronto company that invests in and operates blockchain projects and digital assets. Kevin O’Leary, also known as “Mr. Wonderful” from Shark Tank, and has been pro-crypto, is one of its key figures.
Just last year, the company shared that it has significant ownership in several regulated crypto exchanges in Canada.
Featured image from Telangana Today, chart from TradingView
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