The CEO of WonderFi, a publicly listed crypto holding company that owns one of Canada’s largest crypto exchanges, has been safely released after he was kidnapped, Canada’s CBC reported.

CBC says that Dean Skurka was forced into a car during rush hour in Toronto, and the assailants demanded money for his release. Skurka was released unharmed after he paid a ransom of Canadian Dollar 1 million ($720,660).

In a publicly released statement, Skurka said that “client funds and veri remain safe, and were not impacted by this incident.”

Police in Ontario say crime in the province continues to rise, with gun violence in the Greater Toronto Area breaking records. Consensus 2025 will be held in Toronto in May.

As the crypto bull market continues, with bitcoin (BTC) recently breaking through an all-time high, crypto kidnappings and extortion are also rising.

Recently, police in Thailand arrested 12 people, including seven police officers, who were involved in a crypto kidnapping and extortion ring. The group had allegedly extorted a Chinese national for USDT 10 million after they reportedly fabricated charges and demanded payment to drop the case.