Three Canadian Armed Forces Members Charged in Crypto Exchange Owner’s Abduction

Preface

The Toronto Police Service says seven men have been charged in connection with the July 25, 2026 abduction of a cryptocurrency exchange owner. Three of the accused have been identified as Canadian Armed Forces members. Police allege the victim was taken at gunpoint, handcuffed and assaulted while the suspects sought access to his cryptocurrency assets and business security systems. Investigators laid 82 charges, including kidnapping for ransom and firearms offenses. Searches of residences and vehicles uncovered firearms, silencers, tracking equipment, drugs and more than 2,700 rounds of ammunition, including about 2,500 rounds investigators say were stolen from the military. The allegations have not been proven in court. This article summarizes the reported police account, the arrests and the broader context of crypto-related kidnappings in Canada.

Lazy bag

Toronto police allege that a cryptocurrency exchange owner was abducted near Finch Avenue East and Bayview Avenue on July 25, 2026, and threatened while the suspects tried to access crypto assets and business security systems. Seven men were arrested, and police laid 82 charges. Three accused are Canadian Armed Forces members; two are reservists who were removed from military duties after their arrests. Investigators report seizing firearms, two silencers, drugs and more than 2,700 rounds of ammunition, about 2,500 allegedly stolen from the military. Police say no further arrests are expected, but the investigation remains ongoing.

Main Body

The Toronto Police Service announced that seven men had been arrested in an investigation into the abduction of a cryptocurrency exchange owner. Police say investigators laid 82 charges, including kidnapping for ransom and multiple firearms-related offenses. Authorities have not publicly identified the victim or the cryptocurrency exchange. The case centers on an alleged attempt to use violence and threats to obtain access to digital assets and business security systems.

According to police, the victim was approached near his vehicle in the area of Finch Avenue East and Bayview Avenue on July 25, 2026. Investigators allege that the suspects abducted him at gunpoint, handcuffed him and assaulted him. Police say the alleged offenders sought access to cryptocurrency assets as well as security systems connected to the victim’s business. The victim was later released after being threatened and warned not to contact police.

Chief Superintendent Joe Matthews told reporters that the victim was allegedly targeted because of his access to cryptocurrency assets, according to CityNews. Police have described the incident as a targeted crime involving digital wealth rather than a random encounter. The reported effort to access business security systems also suggests that investigators are examining more than the alleged physical abduction, including how the suspects may have sought to gain control of relevant accounts, devices or information.

The arrests took place over several weeks. 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. Jack Miley, 24, and Suhaib Alekozai, 39, were arrested on September 24. Police said Fernando, Moreau and Miley are members of the Canadian Armed Forces.

The Department of National Defence said Fernando and Moreau are reservists with the 7th Toronto Regiment and were removed from military duties after their arrests. The information released so far does not establish that the accused acted together in any particular capacity, and police have said they are still working to determine how the suspects fit into the investigation. Their military affiliations have drawn attention because investigators say a significant quantity of ammunition found during searches had been stolen from the Canadian Armed Forces.

Searches of homes and vehicles resulted in the seizure of a shotgun, two 9mm firearms with 3D-printed receivers, two silencers, GPS tracking devices and handcuffs. Investigators also reported finding large quantities of methamphetamine and cocaine. In addition, police seized more than 2,700 rounds of ammunition. Investigators determined that about 2,500 of those rounds had been stolen from the Canadian Armed Forces. These reported seizures form part of the evidence being examined; they do not, by themselves, establish the guilt of any accused person.

Police Chief Myron Demkiw addressed the risks officers face when investigating cases involving dangerous weapons. He also expressed concern that three of the accused were trained military members. Demkiw told reporters that military members, police officers and public officials are not above the law. His comments emphasized that professional status does not exempt anyone from criminal investigation or legal accountability when allegations arise.

Matthews said the case reflects the way criminals may adapt their methods and seek new opportunities for financial gain. He described the investigation as involving increasingly sophisticated and targeted crimes connected to digital assets. Cryptocurrency can be held or transferred through systems that may be difficult for outsiders to access, making account credentials, devices and security procedures potential targets. However, the police allegations in this case remain specific: investigators say the suspects tried to obtain access to the victim’s cryptocurrency assets and business-related security systems during the alleged abduction.

Police have said there are no outstanding suspects and that no further arrests are expected. They have also stated that the investigation is ongoing. Matthews said investigators are still trying to determine how all of the accused fit together in the case. That work may involve reviewing evidence gathered during searches, establishing the alleged roles of each person and assessing how the reported weapons, ammunition, tracking devices and other seized items relate to the alleged crime.

The case follows other reported kidnappings in Canada connected to cryptocurrency. WonderFi CEO Dean Skurka was released after a $720,000 ransom was paid in 2024. In another case, 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 nine charges, including kidnapping, assault and firearms offenses.

These cases differ in their circumstances and legal outcomes, but together they illustrate the risks that can arise when people are perceived to have access to valuable digital assets. The Toronto investigation is still proceeding, and the charges against the seven men are allegations rather than findings of guilt. The coming legal process will determine what evidence is admissible and whether the prosecution can prove the charges against each accused.

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