Dean Skurka, CEO of WonderFi, Kidnapped and Held for Ransom in Toronto

Dean Skurka, CEO of blockchain and crypto firm WonderFi, was kidnapped, held for ransom, and was subsequently released after paying $1 million.

Dean Skurka, the CEO of blockchain and crypto firm WonderFi, was reportedly kidnapped in downtown Toronto on Thursday evening and was later released after paying a ransom of $1 million, according to multiple sources, including CBC and others.

The incident occurred around 6 p.m. on Thursday, and Skurka was later found safe at the Centennial Park, according to police reports. The kidnappers had demanded a ransom, which was paid electronically, before releasing Skurka.

Toronto Police Responded Quickly to Kidnapping Report

Upon receiving a call about a kidnapping incident at Richmond Street W. and University Avenue during rush hour, Toronto police quickly arrived at the scene.

According to witnesses, Skurka was seen being forced into a vehicle before making a random demand.

Later, a police spokesperson confirmed the victim's identity as Dean Skurka, who serves as the CEO and President of WonderFi.

For those unfamiliar, WonderFi is a Toronto-based company that owns one of Canada's largest crypto exchanges and also invests in blockchain projects.

The police are still investigating the incident and have not yet disclosed any information about the kidnapping suspects or any leads.

Meanwhile, Skurka himself has reportedly assured customers and investors that their crypto is safe.

In an email to CBC on Thursday, Skurka stated that he was involved in an incident but was now safe. He also took the opportunity to reassure clients that their data and funds remained secure.

Skurka's Kidnapping Highlights a Trend of Violence Against Crypto Personalities

Skurka's kidnapping is the latest in a string of incidents where digital currency personalities have fallen victim to robberies.

According to data from one firm, the Toronto kidnapping marks the 171st incident of violence against crypto personalities.

This latest kidnapping incident also bears similarities to a case in Malaysia last July, where two individuals were kidnapped and later released in exchange for $1.2 million in virtual currency.

In 2022, ransomware gangs and other hackers managed to extort a record high of over $1 billion in cryptocurrency payments.

According to Chainalysis, the amount extorted reflects a 10% increase compared to 2021, highlighting the growing concern around ransomware in the industry.

WonderFi Reports $41 Million CAD In Revenues For 3Q

Interestingly, Skurka's kidnapping occurred just a day after his company announced its third-quarter earnings.

Operating one of Canada’s largest crypto exchanges and making blockchain technology investments, Toronto-based WonderFi reported $41 million in revenue for the last nine months of operation.

The company's performance aligns with Bitcoin's market rally, which sees the cryptocurrency trading above $76k.

For those interested in further details, WonderFi is a publicly listed company in Toronto that invests in and operates blockchain projects and digital assets.

The company includes Kevin O’Leary, also known as “Mr. Wonderful” from Shark Tank, who is a well-known figure in the crypto space and has generally expressed support for cryptocurrencies.

Last year, the company also highlighted its significant ownership in several regulated crypto exchanges in Canada.