Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange TradeOgre
In a current announcement, the Canadian Royal Mounted Police (RCMP) acknowledged that it had carried out the biggest cryptocurrency seizure in Canadian historical past. Notably, the RCMP seized digital belongings value 56 million CAD (40 million USD) from an unlicensed crypto change.
Canadian Police Seize Crypto Worth $40 Million
Canada’s nationwide police – the RCMP – not too long ago shared particulars pertaining to the largest bust of an unlicensed crypto change within the nation’s historical past. The federal police company confiscated digital belongings value $40 million.
Notably, the belongings have been seized from a non-KYC crypto buying and selling platform, TradeOgre. The incident additionally marked the primary time ever {that a} digital asset buying and selling platform was dismantled by Canadian regulation enforcement.
Following a tip from Europol, the Money Laundering Investigative Team (MLIT) opened the case in June 2024. During their investigation, the company discovered that TradeOgre violated Canadian legal guidelines and laws about digital asset buying and selling platforms. The assertion reads:
Investigators have purpose to consider that almost all of funds transacted on TradeOgre got here from legal sources. The major attraction of this kind of platform, which doesn’t require customers to determine themselves to make an account, is that it hides the supply of funds. This is a standard tactic utilized by legal organizations that launder cash.
It is value highlighting that TradeOgre’s web site now shows a banner from the RCMP, mentioning the seizure of crypto belongings from the platform. The official assertion provides that the transaction information obtained from the platform is being analyzed, and expenses are more likely to comply with.
Digital Asset Seizures Around The World
The RCMP’s seizure of TradeOgre’s crypto belongings is simply the newest growth within the international crypto seizure pattern. Due to crypto’s lack of normal international laws, nefarious components are likely to reap the benefits of the shortage of oversight on the brand new asset class.
In July 2025, the US Department of Justice (DOJ) shared particulars on one in every of its largest-ever digital belongings seizures. At the time, the DOJ confiscated digital belongings value $225 million, related to an intensive community of “pig butchering” scams.
Similarly, the US Drug Enforcement Administration (DEA) – in affiliation with the Federal Bureau of Investigation (FBI) – seized greater than $10 million value of cryptocurrencies whereas concentrating on the Sinaloa cartel’s operations in Miami, Florida.
In associated information, the UK Government not too long ago shared plans to promote confiscated BTC value $7 billion, in an try to finance part of the general public price range. However, how a lot of it has already been bought stays to be seen.
Most not too long ago, US authorities seized USDT value $600,000 from an Iranian nationwide accused of supplying important expertise to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% previously 24 hours.
