Cryptocurrency tycoon’s kidnapper pleads guilty for delaying co-defendant’s trial

A man has admitted to kidnapping and torturing Ontario’s self-proclaimed “crypto king” Aiden Pretelski in a violent kidnapping incident in December 2022. The kidnapping became emblematic of the increasing danger that crypto holders face from physical attacks.

Delen Akiam Pong reportedly pleaded guilty to nine charges in Ontario Superior Court in Toronto on Tuesday, including kidnapping, assault and firearms offences. CBC report.

The plea immediately halts the trial of the two co-defendants, and a new trial date has not yet been scheduled.

“From my observations, oversharing plays a huge role, effectively drawing a target on people’s backs,” said cybercrime consultant David Sehyun Baek. decryption. “When traders and investors show screenshots of large profits or post photos of new cars they bought with cryptocurrencies, they are unwittingly providing open source information to criminals.”

court documents Mr Pretelski revealed that he openly flaunted his lifestyle, spending about $16 million of investor funds on private jets, vacations and luxury cars including Ferraris, Lamborghinis and McLarens.

By early December 2022, Ms. Pretelski was abducted and held for three days, during which time she called her landlord and asked for $3 million for her captors, before being released after collecting the money and threatening to remain silent.

Among those awaiting trial is Akil Heywood, an investor who lost large sums of money in Pretelski’s scheme. He is charged with three counts of kidnapping and two counts of extortion, but has pleaded not guilty.

Co-defendant Alfredo Palladino is also charged with similar kidnapping, extortion, firearms and assault charges. The charges against both men have not yet been heard in court.

forced bankruptcy

The kidnapping occurred months after investors forced Pretelsky into bankruptcy in August 2022 in an attempt to recover more than $40 million they had given him as investments in cryptocurrencies and foreign exchange.

Mr. Pretelski himself faces fraud and money laundering charges related to investor funds, with a trial scheduled for October 2026.

Baek pointed to Pretelski’s kidnapping as one of several high-profile cases showing that “these breadcrumbs can lead to real danger,” citing “the Bali case involving a Chinese couple who posted before their deaths and an American influencer who was blackmailed shortly after posting a screenshot of her wallet.”

“Oversharing doesn’t just show off wealth; it outlines habits and vulnerabilities. For motivated attackers, it’s a roadmap,” he said.

In November 2024, WonderFi Technologies CEO Dean Skurka was kidnapped amid an increase in cryptocurrency-related attacks across Canada. Kidnappers demand 1 million Canadian dollars The ransom was paid electronically before being found unharmed at Centennial Park in Etobicoke.

Last month, Kaylon Moore received 13 years in prison The 2022 kidnapping in the Toronto area includes torture, sexual assault and a demand for $1 million in Bitcoin from a victim identified as AT, who was kidnapped outside Thornhill Square and held in a garage in Barrie.

Security researcher Jameson Ropp previously said: predicted By 2025, such attacks are expected to reach an “all-time high”, with the number already exceeding 52 worldwide.