3 Canadian Reservists Charged In Toronto Crypto Kidnapping

Three members of the Canadian Armed Forces are among seven men charged after the alleged kidnapping of the owner of a crypto platform in Toronto. The suspects reportedly tried to gain access to his digital assets and professional security systems, but the police have not confirmed any theft of cryptocurrencies.

A crypto entrepreneur kidnapped and assaulted in Toronto

While arrests multiply in France, the case dates back to July 25, 2026, in the area of Finch Avenue East and Bayview Avenue, north of Toronto. According to the police, the victim was targeted while approaching his vehicle, then kidnapped at gunpoint.

The main points communicated by the investigators are as follows :

• The victim is said to be the owner of a crypto exchange platform ;
• He was reportedly handcuffed and assaulted after being kidnapped ;
• The kidnappers allegedly tried to access his crypto assets ;
• They also sought to compromise security systems related to his crypto business ;
• The victim was then released and threatened to prevent him from contacting the police ;
• Seven men now face a total of 82 charges.

The authorities have not disclosed the name of the entrepreneur or his platform. A publication ban protects his identity. They have also not specified whether the suspects succeeded in transferring cryptocurrencies (bitcoins and others) or accessing clients’ funds.

The investigation progressed rapidly. Within 24 hours of the abduction, police identified the vehicle used in the operation and arrested two suspects. Five other arrests were made in August and September. The seventh man was apprehended on September 24.

The charges vary according to the individuals. They include kidnapping for ransom, unlawful confinement, conspiracy, multiple firearm offenses, possession of criminal property, and possession of drugs with intent to traffic.

Three Canadian reservists among the seven accused

The three soldiers implicated are Talarambage Sachintha Fernando, James Moreau, and Jack Miley. They belong to the 7th Toronto Regiment, a reserve artillery unit based in the city.

Fernando and Moreau were arrested on August 11. Miley was apprehended on September 24. He is notably accused of using a handgun during the kidnapping and pointing it at the victim.

The Canadian Department of Defense has removed the three men from their duties. Their access to equipment, facilities, and military bases has also been restricted. However, they remain members of the Canadian Armed Forces pending the outcome of an administrative review.

The police are particularly concerned about the suspects’ military training. “These are highly trained individuals who have access to firearms,” said Senior Superintendent Joe Matthews. He believes this experience can increase the risk for crypto victims and for responding officers.

Toronto police chief Myron Demkiw reminded that the charges will have to be examined by a court. He stated:

Whether you are a member of the military, a police service, or a public office holder, no one is above the law.

The seven men remain presumed innocent until their guilt is established.

Weapons, military ammunition, and drugs seized

The initial investigation into the kidnapping evolved into a broader operation concerning weapons, drugs, and possible organized criminal activities. Searches conducted in vehicles and residences in Greater Toronto led to the seizure of four firearms.

Among them were a shotgun and three 9-millimeter caliber weapons. Two had frames manufactured with a 3D printer. Police also discovered two silencers, ten magazines with capacity exceeding the legal limit, handcuffs, GPS trackers, portable radios, and a bill counter.

More than 2,700 cartridges were recovered. Approximately 2,500 of these, along with five magazines, were reportedly stolen from the Canadian Armed Forces. The public investigation does not yet specify how these items came into the suspects’ possession or if they were used during the kidnapping.

Authorities also seized methamphetamine, cocaine, and other controlled substances. “What began as a kidnapping investigation became a firearms investigation, a drugs investigation, then a much larger criminal matter,” summarizes Joe Matthews.

This case illustrates the increase in physical attacks against cryptocurrency holders. Unlike cyberattacks, these assaults aim to bypass technical security by coercing the owner directly to reveal credentials or transfer funds.

Crypto fortunes are no longer safe at all. The police are currently not looking for other suspects, but the investigation remains open. They still need to determine the precise role of each accused, the origin of the seized equipment, and possible links to other cases.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.