Canadian Man on the Run After Escaping Kidnap Over 2.5M BTC

A Canadian man is currently on the run with his family after narrowly escaping an attempted kidnap. The attackers, who believed he possessed as much as 2.5 million BTC ($242.5 billion), plotted to abduct him. Although all four suspected kidnappers have been identified, their fate is yet to be decided by the Court of Quebec.

A $242 Billion Kidnap

The victim, whose identity remains undisclosed for safety reasons, believes he was targeted due to his role as a moderator of a cryptocurrency-focused forum. This public association with Bitcoin likely led the kidnappers to assume he owned a massive crypto fortune. However, the man denied holding significant crypto assets, saying, “I’m a regular guy. I might have $10,000.”

The man first reported the incident on November 4 when he said two masked men approached his home but fled after he shut his door. Alarmed, he purchased bear spray and an air pistol for protection.

Days later, on November 8, while preparing to take his daughter to daycare, he spotted hooded suspects in a black Kia without license plates hiding near his home. The car began to follow him, prompting him to contact the police, which made the vehicle abruptly change direction, and three individuals fled on foot.

Local police advised the man to consider moving, citing the suspects’ connection to organized crime and the ongoing risk of reoffending. Quebec Surete spokesperson Benoit Richard said:

“We don’t recommend that people change their address, but it’s one of the options we’re talking about, like changing the locks, installing cameras or alarm systems. If none of that can reassure them, moving is definitely an option that should be considered.”

The Court of Quebec released all four suspects on bail and placed them under house arrest pending their trial in March. They are only allowed to leave their locations for legitimate business dealings. The decision did not sit well with the victimized man and other experts in the field.

Rise in Crypto-Related Crimes

This is not the first time individuals will be targeted because of their ties with crypto-related projects.

In November, WonderFi’s CEO and president, Dean Skurka, was released after his abductors received a $1 million electronic transfer.