Three Canadian Armed Forces Members Charged in Kidnapping of Crypto Exchange Owner

Investigators allege the victim was targeted as he approached his vehicle near Finch Avenue East and Bayview Avenue on July 25, 2026. He was abducted at gunpoint, handcuffed and assaulted while the suspects attempted to gain access to his cryptocurrency assets and business-related security systems. The victim was later released after being threatened and warned not to contact police.

Police have laid 82 charges, including kidnapping for ransom and numerous firearms offenses. The victim and the exchange have not been named.

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, followed by Jack Miley, 24, and Suhaib Alekozai, 39, on September 24.

Fernando, Moreau and Miley have been confirmed as Canadian Armed Forces members. Fernando and Moreau are reservists with the 7th Toronto Regiment and were removed from military duties after their arrests, according to the Department of National Defence.

Searches conducted during the investigation turned up guns with 3D-printed parts, two silencers, drugs and more than 2,700 rounds of ammunition. Approximately 2,500 rounds of that ammunition were stolen from the military.

"The victim was allegedly targeted because of his access to cryptocurrency assets," Chief Superintendent Joe Matthews told CityNews.

The Toronto Police Service noted that the case highlights the significant risks officers face during investigations involving dangerous weapons, with Chief Myron Demkiw expressing additional concern that three of the accused are trained military personnel.

Analysis

Why This Matters

The involvement of active-duty military personnel in a violent kidnapping raises national security and chain-of-command concerns.
This case underscores the growing threat of physical attacks targeting crypto holders, as criminals increasingly view digital assets as high-value, hard-to-trace targets.
The seizure of military-grade weapons and stolen ammunition indicates possible security breaches within the armed forces.

Background

Kidnappings targeting cryptocurrency holders have become more frequent as the value of digital assets has grown. Attackers often target individuals believed to hold large amounts of crypto, using violence or coercion to force access to private keys or exchange accounts. The involvement of military members in this case adds a troubling dimension, raising questions about background checks and unit oversight.

Key Perspectives

Toronto Police: They have charged seven men with serious offenses and have warned that the case might involve wider criminal networks. The police emphasize the high risk officers face in such investigations. Canadian Armed Forces: The military has confirmed that three members are among the accused and has removed reservists Fernando and Moreau from duties. The Department of National Defence is likely conducting its own internal review. Critics/Skeptics: Some may question whether security vetting for military personnel is sufficient, especially for those with access to weapons and ammunition. Others may argue that the case is an isolated incident and not indicative of broader military corruption.

What to Watch

Further disclosures about the victim's identity and the cryptocurrency exchange involved.
Any charges or investigations against other military personnel who may have aided the accused.
Court proceedings, which could reveal more about the planning and execution of the kidnapping, as well as the motive behind targeting a crypto owner.

Analysis

Why This Matters

Background

Key Perspectives

What to Watch

Sources