Three Canadian Armed Forces Members Charged in Kidnapping of Crypto Exchange Owner

Toronto police have arrested seven men, three of them members of the Canadian Armed Forces, over the abduction of the owner of a cryptocurrency exchange, the Toronto Police Service announced on Wednesday.

Investigators have laid 82 charges, including kidnapping for ransom and numerous firearms offenses. Police did not name the victim or the exchange.

Police allege the victim was targeted as he approached his vehicle near Finch Avenue East and Bayview Avenue on July 25, 2026, then abducted at gunpoint, handcuffed and assaulted while the suspects tried to gain access to cryptocurrency assets and business-related security systems. He was later released after being threatened and warned not to contact police.

"The victim was allegedly targeted because of his access to cryptocurrency assets," Chief Superintendent Joe Matthews told reporters, CityNews reported.

Police arrested Saiefeddine Adem, 22, and Raheem Bishop-Jackson, 24, on July 26. Talarambage Fernando, 22, James Moreau, 29, and Christian Darbandi, 39, were arrested on August 11, followed by Jack Miley, 24, and Suhaib Alekozai, 39, on September 24.

Fernando, Moreau and Miley have been confirmed as Canadian Armed Forces members, police said. Fernando and Moreau are reservists with the 7th Toronto Regiment who were removed from military duties after their arrests, the Department of National Defence said earlier this month.

Searches of homes and vehicles turned up a shotgun, two 9mm firearms with 3D-printed receivers, two silencers, GPS tracking devices, handcuffs and large quantities of methamphetamine and cocaine, along with more than 2,700 rounds of ammunition. About 2,500 of those rounds had been stolen from the Canadian Armed Forces, investigators determined.

"Criminals continue to adapt their methods and seek new opportunities for financial gain," Matthews said in the release, describing the investigation as a reflection of increasingly sophisticated and targeted crimes involving digital assets.

"Whether you are a member of the military or a member of a police service or a public official, no one is above the law," Police Chief Myron Demkiw told reporters.

Police say there are no outstanding suspects and no further arrests are expected, though the investigation is ongoing.

"We're still trying to determine how all of [the suspects] fit together in this puzzle," Matthews said.

Crypto kidnappings in Canada

The case follows other kidnappings in Canada linked to crypto. WonderFi CEO Dean Skurka was released after a $720,000 ransom was paid in 2024, while a man who kidnapped a victim for a $1 million Bitcoin ransom was sentenced to 13 years in prison in September 2025.

A month later, one of the men who abducted self-styled "Crypto King" Aiden Pleterski in December 2022 pleaded guilty to to nine charges, including kidnapping, assault, and firearms offenses.