Three members of the Canadian military have been charged in connection with the alleged kidnapping of a cryptocurrency exchange owner in Toronto, Canada, raising concerns about violent crimes targeting individuals involved in the digital asset industry.
According to the Toronto Police Service, the incident occurred on July 25 in North York, near the intersection of Finch Avenue East and Bayview Avenue. Investigators allege that a group of suspects approached the victim as he walked toward his vehicle and forcibly abducted him at gunpoint.
During the kidnapping, the suspects allegedly restrained the cryptocurrency exchange owner with handcuffs and physically assaulted him while demanding access to his digital assets and business-related security systems.
Authorities said the attackers attempted to force the victim to unlock cryptocurrency holdings and provide access to security tools associated with his exchange operations.
The victim was eventually released but was allegedly warned against contacting law enforcement. Police have not confirmed whether the suspects successfully stole any cryptocurrency or identified the specific digital assets they were attempting to obtain.
The investigation revealed that three of the seven individuals allegedly involved in the kidnapping were serving members of the Canadian Armed Forces.
Police identified the military personnel as Talarambage Fernando, 22, James Moreau, 29, and Jack Miley, 24.
Fernando and Moreau were arrested on August 11, while Miley was taken into custody on September 24. The three suspects face multiple criminal charges, including kidnapping for ransom with a firearm and forcible confinement.
Canada's Department of National Defence confirmed that Fernando joined the military reserves in January 2020 and had never been deployed.
The involvement of military personnel has drawn additional attention to the Toronto cryptocurrency kidnapping investigation, particularly because the alleged crime involved attempts to obtain access to digital assets through physical violence.
The case also highlights security risks facing cryptocurrency entrepreneurs, exchange operators, and investors who control substantial digital holdings.
Unlike conventional cyberattacks targeting cryptocurrency wallets through phishing or hacking, physical attacks involve coercion and threats to force victims into surrendering access credentials.
Authorities have not disclosed the total value of cryptocurrency potentially targeted in the incident. The allegations remain subject to court proceedings, and the accused are presumed innocent unless proven guilty.
