Police Confirms Largest Crypto Seizure In Canadian History
The Royal Canadian Mounted Police (RCMP) has confirmed a record-breaking seizure of cryptocurrency linked to the centralized trade TradeOgre, taking management of property value greater than 56 million Canadian {dollars}—about 40 million US {dollars}—following a federal policing investigation in Quebec. The company described the operation as “the biggest cryptocurrency seizure in Canadian historical past,” and stated it dismantled the platform’s Canadian infrastructure. The information was introduced on September 18 from Montréal.
Canadian Police Confirms $40 Million Crypto Seizure
According to particulars launched by Canadian media quoting the RCMP, investigators seized servers in Beauharnois within the Montérégie area, which supported TradeOgre’s operations. RCMP Sgt. Mathieu Lagarde stated: “The servers that allowed this platform to conduct these transactions had been positioned in Canada. So we seized these servers after which seized the crypto property managed by the trade.” Authorities added that this marks the primary time a cryptocurrency trade has been dismantled by police in Canada.
The yearlong probe was run by the RCMP Federal Policing – Eastern Region’s Money Laundering Investigative Team and started in June 2024 after a tip from Europol, based on the accounts of the investigation offered by authorities and reported by nationwide shops. The RCMP alleges TradeOgre didn’t register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a cash companies enterprise and didn’t determine its prospects, situations that investigators say allowed felony organizations to hide the origins of funds.
Open-source blockchain intelligence platform Arkham stated its tooling was used within the case. In a public publish, Arkham wrote that “as per the RCMP’s web site, Arkham was used as a part of the investigation,” and in a analysis be aware the agency documented earlier on-chain indicators—particularly messages embedded in Bitcoin transactions—signaling that Canadian police had claimed possession of funds. Arkham’s report additionally famous TradeOgre’s social and web site exercise had gone darkish earlier this summer season (X account inactive since May; web site offline since July 30).
The RCMP stated it’s now analyzing transaction information from the platform and that enforcement actions might comply with: “The transaction information obtained from the platform might be analyzed and costs might comply with. The investigation is ongoing.” Authorities emphasised that no arrests had been introduced as of the discharge and inspired anybody with related data to contact investigators.
While the RCMP’s assertion framed TradeOgre as an unregistered venue used to launder proceeds of crime, the seizure has already prompted a broader debate amongst some customers who declare professional balances had been swept up with illicit funds. What is obvious, nonetheless, is that Canadian law enforcement has established a brand new high-water mark for home crypto enforcement and, for the primary time, has taken down the Canadian infrastructure of a cryptocurrency trade as a part of a money-laundering investigation.
At press time, the whole crypto market cap stood at $4 trillion.
