Toronto police have arrested seven men in connection with the armed kidnapping of a cryptocurrency exchange owner in Canada. The hostage case immediately drew public attention after the suspects’ identities were made public: three of them are active-duty soldiers in the Canadian Armed Forces. The victim was held captive and beaten in an effort to seize access to his digital wallets and business infrastructure.
The three military personnel involved include Talarambage Fernando (22), James Moreau (29), and Jack Miley (24). Fernando and Moreau are listed as reservists in the 7th Toronto Regiment. Following the announcement of the arrests by police, the Canadian military took swift action, relieving Fernando and Moreau of their active duties.
Police investigations revealed that this was not an ordinary street crime, but rather a calculated operation utilizing illegal firearms and tactical gear.
Armed Ambush at an Intersection
The ambush took place on July 25, 2026, near the intersection of Finch Avenue East and Bayview Avenue in Toronto. The group ambushed the victim near his vehicle. Giving him no opportunity to defend himself, the suspects pointed firearms at the victim, handcuffed him, and physically assaulted him on site.
The kidnappers targeted access to the victim’s cryptocurrency wallets and control over his business systems. Throughout the confinement, the group coerced the victim into surrendering digital security keys and attempted to breach the exchange’s infrastructure. After carrying out their scheme, the perpetrators ultimately released the victim, accompanied by death threats if he reported the matter to law enforcement.
Stolen Military Ammunition and 3D-Printed Handguns
The Toronto Police Service investigation moved swiftly through searches of the suspects’ residences and vehicles. Across multiple locations, officers seized a shotgun, two 9mm handguns with 3D-printed receivers, two silencers, handcuffs, and GPS tracking devices. In addition to firearms, investigators also uncovered narcotics, including methamphetamine and cocaine, at evidence storage locations.
Ammunition boxes seized by investigators uncovered another link directly connecting the case to military posts. Out of more than 2,700 rounds of ammunition found in the group’s possession, approximately 2,500 rounds were confirmed to have been stolen directly from Canadian Armed Forces inventory. This state-owned ammunition was diverted into the hands of a criminal gang to carry out the digital asset extortion.
Investigators have now laid a total of 82 formal charges against the seven suspects, ranging from kidnapping for ransom to dozens of firearms-related offenses. Responding to the involvement of armed service members in the crime, Toronto Police Chief Myron Demkiw and Chief Superintendent Joe Matthews reaffirmed their uncompromising stance, stating that no one is above the law, whether active military personnel or public officials.
Reported by Decrypt.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
