CEO of Canadian Crypto Holding Returns Safely After Paying $720K Ransom: Report

• WonderFi CEO Dean Skurka was briefly held by unknown assailants in Toronto until a ransom was paid.

• Skurka is unharmed.

The CEO of WonderFi, a publicly listed crypto holding company that owns one of Canada’s largest crypto exchanges, has been safely released after he was kidnapped, Canada’s CBC reported.

CBC says that Dean Skurka was forced into a car during rush hour in Toronto, and the assailants demanded money for his release. Skurka was released unharmed after he paid a ransom of Canadian Dollar 1 million ($720,660).

In a publicly released statement, Skurka said that “client funds and data remain safe, and were not impacted by this incident.”

As the crypto bull market continues, with bitcoin (BTC) recently breaking through an all-time high, crypto kidnappings and extortion are also rising.

Recently, police in Thailand arrested 12 people, including seven police officers, who were involved in a crypto kidnapping and extortion ring. The group had allegedly extorted a Chinese national for USDT 10 million after they reportedly fabricated charges and demanded payment to drop the case.