Dean Skurka Kidnapped and Released

Dean Skurka, CEO of Toronto-based WonderFi, was kidnapped and later released after paying a $1 million ransom, according to a CBC report.

Skurka was abducted after being forced into a vehicle in downtown Toronto on Wednesday. He was released after making an electronic payment of $1 million.

The crypto executive stated he "is safe, and that the funds and data of the company's clients were not impacted." The investigation is ongoing, and police have not released further details.

This incident is part of a trend where criminals target individuals in the cryptocurrency sector. In July, a 29-year-old Bitcoiner was kidnapped and killed after four men abducted him and stole three bitcoins worth over $200,000 at the time.

As of last November, WonderFi owned nearly half of all regulated exchanges operating in Canada.