Three members of the Canadian Armed Forces were arrested in connection with an armed kidnapping targeting a cryptocurrency holder in Toronto. The individuals—Talarambage Fernando, James Moreau, and Jack Miley—were part of a seven-person group accused of the July incident, according to Toronto Police.
Police said the group approached the victim as he neared his vehicle, kidnapped him at gunpoint, and restrained him with handcuffs. The attackers attempted to access his cryptocurrency and business security systems before releasing him with warnings not to contact law enforcement.
Officers seized approximately 2,500 rounds of ammunition and five over-capacity magazines during raids, which police said were stolen from the Canadian Armed Forces arsenal.
Toronto Police Chief Myron Demkiw expressed concern about the involvement of military-trained individuals in the crime. "When you are dealing with people who have a degree of training as we do with members of the Canadian Armed Forces who are prepared to engage in what is alleged here, taking somebody off the street by force, that is incredibly concerning," Demkiw said.
The investigation expanded beyond the kidnapping to include firearms and drug-related crimes. Chief Superintendent Joe Matthews noted that the case reflects a broader trend of criminals targeting cryptocurrency asset holders.
"Criminals continue to adapt their methods and identify new opportunities for financial gain. In this case, the victim was allegedly targeted because of his access to cryptocurrency assets," Matthews stated.
Blockchain auditing firm Chainalysis reported that over $30 million had been stolen in wrench attacks—violent crimes used to coerce cryptocurrency holdings—globally by August. All seven members of the group remain in police custody as investigations continue.
