Crypto CEO reportedly kidnapped in $1m plot as Bitcoin hits record levels

One of the biggest crypto CEOs in North America, Dean Shurka, was kidnapped and held to a ransom of $1m.

Shurka is the head of crypto firm WonderFi in Canada. He has now been released unharmed after paying the sum.

WonderFi owns two crypto exchanges in Canada, Bitby and Coinsqaure. It comes after Bitcoin prices surged to an all-time high following the result of the US election.

Shurka was kidnapped on November 6 in Toronto, CBC reports.

He was reportedly forced into a car, with his captors demanding money for his release.

Police then found him in Centennial Park after the money was sent to the captors electronically. Shurka was not injured during the kidnapping.

“[WonderFi] is providing its full cooperation to the Toronto Police Service on this active investigation,” Shurka’s spokesperson told BetaKit.

“The company can confirm that client funds and data remain safe, and were not impacted by this incident. Our top priority is ensuring our employees’ safety.”

It comes after bitcoin prices hit a new high this week, as investors bet that former Donald Trump's victory in the U.S. presidential election will be good news for cryptocurrencies.

Bitcoin jumped nearly 8 per cent to a record $75,345.00 in early trading, before falling back to about $73,500.00.

Trump was previously a crypto sceptic but changed his mind and took a favourable view of cryptocurrencies ahead of the election. He pledged to make America "the crypto capital of the planet" and create a “strategic reserve” of bitcoin.

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