Emily Walker
Dean Skurka, the CEO of WonderFi, a blockchain and cryptocurrency company, was abducted and later released after allegedly paying a $1 million ransom. Reports indicated that Skurka was kidnapped in downtown Toronto around 6 p.m. on a Thursday.
He was found safe and released near Centennial Park, where police confirmed that the kidnappers had requested a ransom that was paid through electronic means.
Swift Police Action Following Kidnapping Report
Toronto police promptly addressed a report of the kidnapping at Richmond Street W. and University Avenue during evening rush hour. Witnesses noted that Skurka was forced into a car while the abduction unfolded.
The victim was identified by police as Dean Skurka, who leads WonderFi, recognized as one of Canada’s largest crypto exchanges that also invests in blockchain endeavors.
Investigations are ongoing, but no information has been disclosed concerning the suspects or leads related to the kidnapping.
Client Safety Assured: Skurka
In an email sent to CBC, Skurka confirmed he was involved in an incident but is now safe. He assured clients that their personal information and funds remain protected.
This isn’t the first time a crypto executive has been targeted; Skurka’s ordeal adds to a series of thefts against individuals in the digital currency space. Reports indicate this incident marks the 171st violent event aimed at crypto figures in Toronto.
This abduction bears resemblance to an incident in Malaysia last July, where two people were held for a ransom of $1.2 million in cryptocurrency.
In the past year, ransomware groups and hackers have extorted over $1 billion in cryptocurrency, marking a significant rise from previous years. According to Chainalysis, this is up from 2021 by 10%, highlighting the deepening concern over ransomware threats within the sector.
WonderFi Posts $41 Million CAD Revenue in Third Quarter
The incident with Skurka occurred shortly after WonderFi announced its third-quarter earnings. The Toronto-based firm reported a revenue of $41 million for the past nine months, coinciding with Bitcoin’s recent uptick, now priced above $76,000.
WonderFi is publicly traded and focuses on investing in and managing blockchain ventures and digital assets. Notably, Kevin O’Leary, also known as “Mr. Wonderful” from Shark Tank, is associated with the firm and is generally an advocate for cryptocurrency.
Last year, the company stated it maintained significant stakes in several regulated Canadian crypto exchanges.
Featured image from Telangana Today, chart from TradingView