Three Canadian Armed Forces members are among seven men facing 82 criminal charges following the alleged armed kidnapping of a crypto exchange owner in Toronto, police said in an Oct. 14 update.
Investigators allege the victim was targeted as he approached his vehicle in the Finch Avenue East and Bayview Avenue area on July 25. He was abducted at gunpoint, handcuffed, and assaulted.
The suspects allegedly tried to gain access to cryptocurrency assets and business-related security systems. Police said the victim was later released after threats and a warning not to report the incident to police.
Police have not identified the exchange or disclosed whether cryptocurrency was transferred. Their reference to business-related security systems does not show that exchange-controlled infrastructure or customer assets were compromised, and they did not provide a loss amount.
Police identified the service members as Talarambage Fernando, James Moreau and Jack Miley. Each faces charges of kidnapping for ransom with a firearm and forcible confinement, among other offenses.
Police arrested the suspects between July 26 and Sept. 24. Police arrested Fernando, Moreau, and Christian Darbandi on Aug. 11, while arresting Miley and Suhaib Alekozai on Sept. 24. Police arrested Raheem Bishop-Jackson and Saiefeddine Adem on July 26.
CityNews reported on Oct. 5 that the Department of National Defense had confirmed Fernando and Moreau’s service status and restricted military access.
Global News reported Defense removed all three 7th Toronto Regiment reservists from duties, restricting military access pending administrative reviews.
The 82 charges are the combined total, with allegations varying among the accused. The police release lists of earlier scheduled bail appearances without outcomes or next hearing dates.
Police continue to examine their connections, and the charge list does not establish each person’s alleged role.
Searches in crypto kidnapping case uncovered military ammunition
Searches of residences and vehicles recovered more than 2,700 rounds of ammunition, a shotgun and three 9 mm firearms, police said. Two of the 9 mm weapons had 3D-printed receivers.
Officers also seized two silencers and 10 overcapacity magazines. In a follow-up account, police said approximately 2,500 rounds and five of the magazines had been stolen from the Canadian Armed Forces.
The public accounts do not explain how that ammunition reached the accused or establish that military weapons were used in the abduction.
Other seizures included GPS tracking devices, handcuffs, portable radios, methamphetamine, cocaine and other controlled substances.
A separate kidnapping case took place recently in Danbury, Connecticut, involving physical coercion aimed at crypto access.
The allegations concern physical coercion for access to crypto, commonly described as a wrench attack. Blockchain security firm CertiK defines the category as coercion that forces victims to transfer assets or surrender access to wallets, keys, or credentials.
This can include pressure to unlock a wallet or reveal credentials, alongside demands to move funds. The handcuffs, assault and threats alleged in Toronto describe an attempt to obtain access through the person targeted.
Its July report counted 52 verified public incidents worldwide in the first half of 2026, compared with 39 in the same period of 2025. The dataset covers documented cases and is subject to underreporting and reporting delays.
Toronto police said on Oct. 14 that the investigation remained active, although they were not currently seeking additional suspects.