Toronto police have arrested seven people — including three reservists from the Canadian Armed Forces — in connection with a violent cryptocurrency kidnapping. The suspects face a total of 82 criminal charges, authorities said.
The investigation began on July 25 after a cryptocurrency exchange owner was abducted near Finch Avenue East and Bayview Avenue in North York. According to Staff Supt. Joe Matthews, the victim was handcuffed, beaten and held at gunpoint while the attackers tried to force him to access his cryptocurrency holdings and business-related security systems. The victim was eventually released and told not to contact police, but investigators were alerted and arrested two suspects within a day after flagging the suspect vehicle.
The three military members were identified as Talarambage Fernando, 22, James Moreau, 29, and Jack Miley, 24, all of the 7th Toronto Regiment. Fernando and Moreau hold the rank of bombardier. Fernando and Moreau were arrested on Aug. 11, while Miley was arrested on Sept. 24. The charges include kidnapping for ransom with a firearm, forcible confinement and firearms offenses.
Police seized a shotgun, 2,500 rounds of ammunition traced back to the Canadian Armed Forces, firearms fitted with 3D-printed receivers, GPS trackers, a crossbow with arrows, Canadian cash, methamphetamine and cocaine. The Canadian Armed Forces confirmed it owned the ammunition, even though it had not flagged the rounds as missing before the police seizure.
Police Chief Myron Demkiw said the military background of the suspects raises concern because of the level of training allegedly brought to the crime. The case contrasts with recent crypto kidnappings in France and the UK, where investigators say shadowy organizers often recruit teenagers through social media. French prosecutors have charged more than 10 minors since 2023, and three Sheffield teenagers were jailed in February for a $4.3 million knifepoint crypto theft.
Chainalysis counted 46 reported wrench attacks worldwide in the first half of 2026, with home invasions jumping from one reported case in 2025 to 20, and more than $30 million stolen — on pace to pass 2025's record of $58 million.
