Soldiers Among 7 Charged in Kidnapping of Crypto Exchange Owner

Seven men have been arrested in Canada over the kidnapping of a man who owned a cryptocurrency exchange (a website where people buy and sell digital money like Bitcoin). Shockingly, three of the accused are members of the Canadian Armed Forces — the country's military.

Toronto police announced the arrests on Wednesday and laid 82 charges, including kidnapping for ransom (demanding money in exchange for releasing a hostage) and many gun-related offenses. Police did not name the victim or his company.

What happened? According to police, the victim was targeted on July 25, 2026, as he walked to his car. The suspects allegedly:

• Abducted him at gunpoint and handcuffed him
• Assaulted him while trying to get access to his crypto assets (his digital money holdings)
• Tried to break into his business security systems
• Released him afterward, warning him not to call police

Police say the victim was specifically targeted because he controlled valuable cryptocurrency.

What police found: Searches of homes and vehicles turned up a frightening collection of weapons and drugs:

• A shotgun and two 9mm guns with 3D-printed parts
• Two silencers and GPS tracking devices
• Methamphetamine and cocaine
• More than 2,700 rounds of ammunition — about 2,500 of them stolen from the military

Two of the soldiers were reservists (part-time military members) who have since been removed from their duties. "No one is above the law," said Police Chief Myron Demkiw.

This isn't the first case of its kind. Crypto owners are increasingly targeted because digital money can be hard to trace once stolen. In 2024, a Canadian crypto company CEO was released after a $720,000 ransom was paid. In 2025, another kidnapper was sentenced to 13 years for demanding a $1 million Bitcoin ransom.

The takeaway: As cryptocurrency grows more valuable, criminals are turning to violence to steal it directly from owners. Police say no further arrests are expected, but the investigation continues.

This is an AI-generated summary. Read the original article at: https://decrypt.co/381148/three-canadian-armed-forces-members-charged-in-kidnapping-of-crypto-exchange-owner