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

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wonderfi CEO

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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.

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