Crypto Firm CEO Kidnapped, Freed After Paying $1 Million Ransom: Report

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Ruholamin Haqshanas

Author

Ruholamin Haqshanas

About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto…

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Last updated:

November 7, 2024 23:09 EST

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Dean Skurka, CEO of Toronto-based WonderFi Technologies, was reportedly abducted in downtown Toronto during rush hour on November 6, according to a report from CBC.

The incident involved Skurka being forced into a vehicle and later paying a $1 million ransom via electronic transfer to secure his release, a source close to the investigation disclosed.

Skurka has reportedly confirmed that he was involved in the event but reassured that he is safe. He also stated that the company’s funds and data remain unaffected.

Toronto Police Investigates the Case

Toronto police are investigating the case, but no additional details have been made public. Neither Skurka nor WonderFi has commented on the matter on social media or the company’s website.

“The safety and security of all of WonderFi’s employees are paramount. Client funds and data remain safe, and were not impacted by this incident.”

The kidnapping highlights a troubling pattern of crypto executives and influencers being targeted by criminals.

High-profile cases include the abduction and murder of a Bitcoiner in Ukraine in July and the kidnapping of a Chinese national in Malaysia in August, where $170,000 in Bitcoin and $1 million in stablecoin Tether were demanded, respectively.

WonderFi, one of Canada’s leading crypto firms, is listed on the Toronto Stock Exchange under the ticker WNDR and boasts a market cap of $75 million, according to Google Finance.

Backed by Shark Tank’s Kevin O’Leary, the company specializes in developing and investing in centralized and decentralized blockchain protocols.

The firm recently revealed it manages $1.35 billion in assets under custody as of Oct. 30.

Its portfolio includes notable subsidiaries such as Coinsquare, SmartPay, Tetra Trust, and Bitbuy.

Skurka, who previously served as Bitbuy’s president, assumed the CEO role at WonderFi in July 2023.

DHS Investigators Prevent Hundreds of Ransomware Attacks

As reported, the Department of Homeland Security (DHS) has disrupted hundreds of crypto scam incidents, reclaiming billions in extorted cryptocurrency since 2021.

DHS investigators have intercepted 537 ransomware attacks before they could cause widespread damage.

The effort, led by the Homeland Security Investigations (HSI) Cyber Crimes Center, has proven particularly vital for the protection of U.S. government agencies, which have been the primary targets of these cyber threats.

Meanwhile, phishing attacks remain a major issue for crypto users, resulting in substantial losses.

In September alone, more than 10,000 individuals lost over $46 million to such scams, as reported by Scam Sniffer, a Web3 anti-scam platform.

The platform revealed that 10,805 victims suffered losses amounting to $46.7 million from various crypto phishing scams.

In the third quarter of 2024, over $127 million in crypto assets were stolen, with Ether wallets being the prime targets in these phishing attacks.