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 allegedly attempted to gain access to his digital assets and professional security systems, but police have not confirmed any crypto theft.
In brief
- Seven men, including three Canadian soldiers, are charged after the kidnapping of a crypto entrepreneur in Toronto.
- The suspects allegedly attacked the victim in an attempt to gain access to his cryptos and his company’s security systems.
- The three soldiers were dismissed from their duties, but remain members of the Canadian Armed Forces.
- The searches led to the seizure of weapons, drugs and more than 2,700 cartridges, some of which were allegedly stolen from the army.
- The seven defendants face 82 charges. No crypto theft has been confirmed at this stage.
Crypto entrepreneur kidnapped and assaulted in Toronto
While arrests are increasing in France, the case dates back to July 25, 2026, in the area of Finch Avenue East and Bayview Avenue, north of Toronto. Police say the victim was targeted as he approached his vehicle and then kidnapped at gunpoint.
THE main elements communicated by the investigators are the following:
- The victim would be the owner of a crypto exchange platform;
- She was allegedly handcuffed and assaulted after her kidnapping;
- The kidnappers allegedly tried to access his crypto assets;
- They also allegedly sought to compromise security systems linked 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 revealed the name of the entrepreneur or his platform. A publication ban protects his identity. They also did not specify whether the suspects managed to transfer cryptos (bitcoins and others) or access customer funds.
The investigation progressed quickly. In the 24 hours following the kidnapping, police identified the vehicle allegedly used in the operation and arrested two suspects. Five other arrests took place in August and September. The seventh man was arrested on September 24.
The charges vary depending on the person. They include kidnapping for ransom, forcible confinement, conspiracy, several weapons offenses, possession of property of criminal origin and possession of drugs for the purpose of trafficking.
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 arrested on September 24. The latter is notably accused of having used a handgun during the kidnapping and of having pointed it at the victim.
The Canadian Ministry of Defense removed the three men from their posts. Their access to military equipment, installations and bases has also been restricted. However, they remain members of the Canadian Armed Forces pending the outcome of an administrative review.
Police are particularly concerned about the suspects’ military training. “These are highly trained people who have access to firearms”said Chief Superintendent Joe Matthews. He believes that this experience can increase the risk for crypto victims and for the agents responsible for responding.
Toronto Police Chief Myron Demkiw reiterated that the charges will have to be examined in court. He stated:
Whether you are a member of the military, a police force, or a public office holder, no one is above the law.
The seven men remain presumed innocent until proven guilty.
Weapons, military ammunition and drugs seized
The initial kidnapping investigation grew into a larger operation involving weapons, drugs and possible organized criminal activity. Searches of vehicles and homes in the Greater Toronto Area resulted in the seizure of four firearms.
Among them were a hunting rifle and three 9 millimeter caliber weapons. Two had carcasses made with a 3D printer. The police also discovered two silencers, ten magazines with a capacity above the authorized limit, handcuffs, GPS trackers, portable radios and a ticket counter.
More than 2700 cartridges were recovered. About 2,500 of them, along with five magazines, are believed to have been stolen from the Canadian Armed Forces. The public inquiry does not yet specify how this equipment ended up in the hands of the suspects or whether it was used during the kidnapping.
Authorities also seized methamphetamine, cocaine and other controlled substances. “What started as a kidnapping investigation became a gun investigation, a drug investigation, and then a much larger criminal case”summarizes Joe Matthews.
This case illustrates the multiplication of physical attacks against holders of cryptocurrencies. Unlike computer hacking, these attacks seek to circumvent technical security by directly forcing the owner to reveal their credentials or transfer their funds.
Crypto fortunes are no longer secure at all. Police are not currently looking for any other suspects, but the investigation remains open. It must still determine the precise role of each accused, the origin of the equipment seized and the possible existence of links with other cases.
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