Police in Toronto say attackers targeted cryptocurrency and corporate security credentials; ammunition stolen from the military surfaced during searches.
In an Oct. 14 briefing, officials disclosed that seven men—including three Canadian military personnel—face 82 criminal counts after a crypto platform founder was allegedly abducted at gunpoint in Toronto.
Detectives say assailants ambushed the victim as he walked toward his car near Finch Avenue East and Bayview Avenue on July 25, when he was abducted at gunpoint, restrained, and beaten.
Authorities say the suspects attempted to breach digital currency holdings and enterprise security controls. Investigators added that after receiving threats and a warning against contacting law enforcement, the victim was released.
Officials withheld the name of the exchange and declined to state if any digital currency changed hands. Reference to corporate security credentials does not indicate that customer funds or platform systems were breached, and no financial loss was confirmed.
Authorities named the military personnel as Talarambage Fernando, James Moreau, and Jack Miley. Each individual faces counts including armed extortion kidnapping and illegal restraint, alongside several offenses listed by investigators.
Officers rounded up the suspects between July 26 and Sept. 24. Fernando, Moreau, and Christian Darbandi were apprehended Aug. 11, whereas Miley and Suhaib Alekozai fell into custody Sept. 24. Raheem Bishop-Jackson and Saiefeddine Adem were detained July 26.
CityNews noted on Oct. 5 that defence officials verified Fernando and Moreau’s military status, though their facility access was revoked.
Global News reported that military leadership relieved all three 7th Toronto Regiment reservists of their duties, restricting installation access while administrative reviews were launched.
The 82 counts represent a collective tally, as specific allegations differ across defendants. While police documented several prior bail hearings, no outcomes or future court dates were provided.
Investigators continue probing the men’s ties, though the charge sheet fails to detail how each individual’s alleged role was defined.
Searches in Crypto Kidnapping Case Reveal Military Ammunition
Police reported that raids on homes and vehicles yielded over 2,700 rounds of ammunition, a shotgun, and three 9 mm handguns. Two of the 9 mm pistols had 3D-printed receivers attached.
Authorities also confiscated two suppressors and 10 prohibited high-capacity magazines. In a subsequent statement, police noted that roughly 2,500 cartridges and five magazines were stolen from Canadian Armed Forces stocks.
Official records do not clarify how the suspects obtained those munitions, nor do they confirm that military weapons were drawn during the kidnapping.
Detectives also recovered GPS trackers, restraints, two-way radios, methamphetamine, cocaine, and additional controlled narcotics during the operation.
A similar abduction unfolded recently in Danbury, Connecticut, where assailants used physical force to demand digital currency access.
The allegations center on physical force to compel digital currency access, a tactic widely known as a wrench attack. Blockchain security firm CertiK defines the category as violence or threats that force victims to surrender access to wallets, private keys, or corporate credentials.
Such tactics involve pressuring victims to open wallets or disclose passcodes, along with demands to transfer funds. The restraints, physical violence, and threats alleged in Toronto point to a scheme where credentials were extracted through direct coercion of the victim.
The firm’s July report logged 52 verified public cases globally across the first half of 2026, up from 39 during the same stretch in 2025. While the dataset tracks confirmed incidents, numbers remain subject to underreporting and delayed disclosures.
Toronto police confirmed on Oct. 14 that the investigation remains active, though detectives are not actively pursuing further suspects at this time.
