Kidnapped crypto CEO released for $1m ransom
Rising cryptoasset prices may not only encourage scammers but also prompt more physical attacks.
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Rising cryptoasset prices may not only encourage scammers but also prompt more physical attacks.
CBC Toronto, citing an undisclosed source, reported that the man kidnapped on Wednesday in Toronto is Dean Skurka, CEO of crypto company WonderFi. According to the report, Skurka was released soon after the kidnappers received a $1 million ransom.
The report did not specify how the ransom was paid, only noting that it was done electronically. Skurka, who was forced into a vehicle, confirmed to CBC Toronto that he had been involved in an "incident" but is now safe, and the company was not impacted.
While the investigation is ongoing, Bitcoin security expert Jameson Lopp noted in the report that this case marks at least the 171st instance of physical violence used to steal BTC. He emphasized that it serves as another reminder for cryptoasset users to improve their physical and operational security and strengthen their privacy.
The attack on Skurka has been added to the list of attacks recorded by Lopp. This year alone, 16 attacks have been registered in countries such as Thailand, Ukraine, Romania, the UK, China, Malaysia, and Singapore. In Canada, two attacks have been recorded, while four cases occurred in Thailand. For comparison, 17 attacks were registered last year.
Another Bitcoiner and former police officer, Rigel Walshe, reported earlier on physical attacks targeting bitcoiners. According to Walshe, these types of attacks often occur during in-person trades, via home or work invasions, and through kidnapping. He warned that such invasions are increasing and present a significant future threat for Bitcoin businesses.
Meanwhile, Skurka's kidnapping occurred on the same day WonderFi announced its third-quarter results. The company reported that its revenue and interest income reached $41 million in the first nine months of this year, an increase of 153% over the previous year. WonderFi also revealed that it holds $42 million in cash and digital assets, along with total investments of $9 million.