{"id":596047,"date":"2024-11-08T06:39:23","date_gmt":"2024-11-08T06:39:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=596047"},"modified":"2024-11-08T15:39:42","modified_gmt":"2024-11-08T15:39:42","slug":"kevin-oleary-backed-wonderfi-ceo-freed-after-720k-ransom-paid-in-toronto-abduction","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/kevin-oleary-backed-wonderfi-ceo-freed-after-720k-ransom-paid-in-toronto-abduction","title":{"rendered":"Kevin O&#8217;Leary-Backed WonderFi CEO Freed After $720K Ransom Paid In Toronto Abduction"},"content":{"rendered":"<p>The CEO of Kevin O&rsquo;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.<\/p>\n<p>Skurka <span style=\"font-weight: 400;\">said in a company statement that &ldquo;client funds and data remain safe,&rdquo; and were not impacted by the incident. He had paid a $1 million CAD ransom, worth $720,660, according to a <a href=\"https:\/\/www.cbc.ca\/news\/canada\/toronto\/kidnapping-toronto-businessman-cryptocurrency-1.7376679\">report<\/a> by Canada&rsquo;s CBC.<\/span><\/p>\n<p>WonderFi is backed by multimillionaire O&rsquo;Leary, who is co-host of the TV show <em>Shark Tank<\/em>. It&rsquo;s listed on the Toronto Stock Exchange and has a market capitalization of almost C$110 million ($79 million).<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/thelogic.co\/wp-content\/uploads\/2023\/08\/Dean_Skurka_WonderFi_CEO-July_2023-Toronto-P_Nick_Iwanyshyn-The_Logic-0719Logic_DeanSkurka003-inline-1920x1280-min.jpg\" alt=\"I hope we get to catch our breath': WonderFi CEO Dean Skurka on what's next for the newly minted crypto giant - The Logic\"><\/p>\n<h2><span style=\"font-weight: 400;\">WonderFi CEO The Latest Victim In Rising Crypto Crime Wave<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/canadian-crypto-regulations-are-encouraging-says-wonderfi-ceo\"><span style=\"font-weight: 400;\">WonderFi<\/span><\/a><span style=\"font-weight: 400;\"> CEO&rsquo;s kidnapping is the latest incident amid a rising crypto crime trend.&nbsp;<\/span><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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&rsquo;s USDT stablecoin.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">WonderFi&rsquo;s Share Price Plunges 10%<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">WonderFi&rsquo;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. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">With over 8.42M shares traded, <a href=\"https:\/\/twitter.com\/WonderFi?ref_src=twsrc%5Etfw\">@WonderFi<\/a>  has officially marked it's position as the most traded stock on the Toronto Stock Exchange today.<\/p>\n<p>The recent activity is a clear sign of increasing interest from both Institutional and retail investors in the digital asset industry and&hellip;<\/p>\n<p>&mdash; Dean (@wonderfi_dean) <a href=\"https:\/\/twitter.com\/wonderfi_dean\/status\/1851392229417353610?ref_src=twsrc%5Etfw\">October 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The plunge could also be attributed to the company&rsquo;s third-quarter results, which showed revenue for the quarter was 46% below analyst expectations.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/blackrocks-ibit-bitcoin-etf-posts-record-1-1-billion-inflow-as-bitcoin-hits-new-ath-following-fed-rate-cut\"><span style=\"font-weight: 400;\">BlackRock&rsquo;s IBIT Bitcoin ETF Posts Record $1.1 Billion Inflow As Bitcoin Hits New ATH Following Fed Rate Cut<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/whats-next-after-donald-trump-win-crypto-and-these-other-assets-are-poised-to-surge\"><span style=\"font-weight: 400;\">What&rsquo;s Next After Donald Trump Win? 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