WonderFi CEO, Dean Skurka was reportedly abducted and compelled to pay a $1 million ransom in exchange for this release.
According to a report by CBC on November 7, the CEO of Toronto-based crypto firm WonderFi Technologies was reportedly abducted and compelled to pay a $1 million ransom in exchange for this release.
WonderFi CEO Secures His Release with $1m Bail
A source familiar with the investigation informed CBC that Dean Skurka was “compelled” into a vehicle in downtown Toronto during “rush hour” on Nov. 6 and subsequently made a $1 million electronic transfer to secure his release.
Skurka reportedly verified via email that he was involved in a “incident” on Nov. 6, but that he is safe and that company funds and data were not impacted.
According to CBC, the investigation is still ongoing and the police have not disclosed any additional information.
The ordeal has not been publicly discussed by WonderFi CEO or the company on their website or on X. WonderFi has been contacted by Cointelegraph for comment.
The abduction of crypto executives and influencers, which are frequently motivated by the intention of stealing substantial quantities of money, is a growing concern, and Skurka’s incident is yet another example of this trend.
In July, four suspects were apprehended for allegedly kidnapping and murdering a 29-year-old foreign national Bitcoiner in Kyiv, Ukraine, and seizing $170,000 worth of Bitcoin.
A few weeks later in August, six Malaysian nationals were arrested on charges of detaining a Chinese national and demanding a ransom of $1 million in Tether, a stablecoin.
One of the most prominent public-listed crypto firms in Canada, WonderFi is tickered WNDR on the Toronto Stock Exchange and is supported by Shark Tank co-host and multimillionaire Kevin O’Leary. According to Google Finance data, it has a market capitalization of $75 million.
The organization engages in the development, incubation, and investment of decentralized protocols and centralized exchanges.
The WonderFi layer 2 blockchain and the non-custodial wallet, WonderFi Wallet, are two of its most frequently utilized products.
In a statement issued on October 30, WonderFi disclosed that it has $1.35 billion in assets under custody.
Skurka previously served as President of Bitbuy, a crypto exchange, from January 2018 to July 2023. WonderFi is the proprietor of Bitbuy, Tetra Trust, SmartPay, and Coinsquare, cryptocurrency firms.
