A volunteer director of a cryptocurrency forum has gone into hiding with his family after surviving an alleged kidnapping attempt, according to a report from Quebec newspaper La Presse.

The suspects reportedly targeted the man, believing he was holding millions in bitcoin (Bitcoin). Instead, he claims his estate was closer to $10,000.

According to La Presse newspaper The incident started In early November when two masked men approached his house. Days later, while driving his daughter to nursery, he noticed masked people in a black car near his house.

A confrontation ensued, leading to the arrest of four suspects. Among them were two minors who allegedly planned to kidnap and torture the man to obtain the password to his cryptocurrency wallet.

Kidnapping plot

The suspects, who have no previous criminal record, have been charged with conspiracy to kidnap and firearms offences.

They were released under house arrest pending trial scheduled for March. Meanwhile, police advised the man to move due to links between the suspects and organized crime.

The father of four now moves between temporary accommodations to ensure the safety of his family. Adding to the challenges he faces is the involvement of Quebec's Department of Youth Protection due to concerns about the security of his children.

This is not the first incident involving high-security cryptocurrencies in Canada. Last November, the body of Kevin Mirshahi, a 25-year-old cryptocurrency influencer who had been missing since June, was found. It was found At Île-de-la-Visitation Park in Montreal. Authorities identified him through an autopsy, marking Montreal's 32nd homicide of 2024 and raising concerns about violence in the cryptocurrency community.

Also in November, WonderFi CEO Dean Skurka said, He was kidnapped In downtown Toronto during rush hour. He was later released after a $1 million ransom was paid electronically.