Dean Skurka, CEO of Toronto-based crypto company WonderFi Technologies, was reportedly abducted in downtown Toronto during rush hour on Nov. 6 and forced to pay a $1 million ransom, according to CBC. Skurka later confirmed in an email that he was involved in an “incident” but is now safe, and emphasized that WonderFi’s company funds and data were not compromised.
Details of the Incident and Police Investigation
A source close to the investigation reported that Skurka was forced into a vehicle and subsequently made a $1 million electronic transfer to secure his release. Toronto police have yet to release additional information, but they confirmed that an investigation is ongoing.
Neither Skurka nor WonderFi has publicly commented further on the incident. Cointelegraph reported attempts to reach WonderFi for further details.
Growing Trend of Targeted Attacks on Crypto Executives
The reported kidnapping of Skurka highlights a troubling pattern of abductions and ransom demands targeting crypto executives and influencers, as digital assets are increasingly associated with high-value holdings and quick-access funds. Similar incidents have been reported globally:
- In July, four suspects were arrested for allegedly kidnapping and killing a 29-year-old Bitcoiner in Kyiv, Ukraine, and seizing $170,000 in Bitcoin.
- In August, six Malaysian nationals faced charges for kidnapping a Chinese national, demanding a $1 million ransom in the stablecoin Tether.
About WonderFi and its Key Offerings
WonderFi, one of Canada’s leading publicly traded crypto firms and backed by well-known investor Kevin O’Leary, is listed on the Toronto Stock Exchange under the ticker WNDR, with a market cap of approximately $75 million, according to Google Finance. The company develops, incubates, and invests in both centralized and decentralized crypto solutions. Among its key products are the WonderFi Wallet, a non-custodial wallet, and a layer-2 blockchain technology known as the WonderFi blockchain.
As of an Oct. 30 statement, WonderFi reported holding $1.35 billion in assets under custody. Additionally, the company owns several prominent crypto firms, including Coinsquare, SmartPay, Tetra Trust, and Bitbuy, the latter of which Skurka previously led as president until July 2023.
This incident underscores the growing concerns surrounding the security of crypto executives as the industry expands and draws more public attention.
