Search Inside Bitcoins

Kevin O’Leary-Backed WonderFi CEO Freed After $720K Ransom Paid In Toronto Abduction

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

wonderfi CEO
wonderfi CEO

Join Our Telegram channel to stay up to date on breaking news coverage

The CEO of Kevin O’Leary-backed WonderFi Technologies Inc., Dean Skurka, has been safely released after paying a $720,000 ransom following his abduction during rush hour in Toronto on Nov. 7.

Skurka said in a company statement that “client funds and data remain safe,” and were not impacted by the incident. He had paid a $1 million CAD ransom, worth $720,660, according to a report by Canada’s CBC.

WonderFi is backed by multimillionaire O’Leary, who is co-host of the TV show Shark Tank. It’s listed on the Toronto Stock Exchange and has a market capitalization of almost C$110 million ($79 million).

I hope we get to catch our breath': WonderFi CEO Dean Skurka on what's next for the newly minted crypto giant - The Logic

WonderFi CEO The Latest Victim In Rising Crypto Crime Wave

The WonderFi CEO’s kidnapping is the latest incident amid a rising crypto crime trend. In July this year, four suspects were arrested for allegedly kidnapping and murdering a 29-year old foreign national Bitcoin investor in Kyiv, Ukraine. The perpetrators stole $170,000 worth of Bitcoin.

Just a month later, charges were brought against six Malaysian nationals for kidnapping a Chinese national and demanding a $1 million ransom. The criminals wanted the payment to be made in Tether’s USDT stablecoin.

WonderFi’s Share Price Plunges 10%

WonderFi’s share price plunged more than 10% to trade at $0.17 as of 8:58 a.m. EST after new of the incident broke.

The plunge could also be attributed to the company’s third-quarter results, which showed revenue for the quarter was 46% below analyst expectations.

Related Articles:

Most Searched Crypto Launch - Pepe Unchained

Rating

Pepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards - pepeunchained.com
  • $10+ Million Raised at ICO - Ends Soon
Pepe Unchained

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

Please enter Coingecko Free Api Key to get this plugin works