Toronto crypto company CEO kidnapped, held for $1M ransom before being released

The head of a company specializing in cryptocurrency was kidnapped and held for ransom in downtown Toronto during rush hour Wednesday.

Police were called about a kidnapping in the area of University Avenue and Richmond Street W. just before 6 p.m., says a spokesperson with the Toronto Police Service.

The suspects forced the victim into a vehicle and made a demand for money, the spokesperson said.

The man was later located in Centennial Park in Etobicoke uninjured.

CBC Toronto has learned the victim is Dean Skurka, the president and CEO of Toronto-based financial firm WonderFi. He was released after a ransom of $1 million was paid electronically, a source close to the investigation said.

Dean Skurka is the president and CEO of WonderFi, a Toronto-based cryptocurrency firm. (LinkedIn)

Skurka said via email he was involved in an "incident" Wednesday but is safe, and that the funds and data of company's clients were not impacted.

Police say the investigation is ongoing and have not released any further details.