- RCMP seizes $40M in crypto, dismantles TradeOgre exchange.
- Historic crypto seizure reveals illicit funds linked to TradeOgre platform.
- Canada intensifies crackdown on unregistered crypto exchanges after TradeOgre’s collapse.
In a groundbreaking move, the Royal Canadian Mounted Police (RCMP) has seized a staggering 56 million Canadian dollars (about $40 million) in cryptocurrency from the local crypto exchange, TradeOgre. This operation marks the largest cryptocurrency seizure in Canada’s history, sending shockwaves through the digital asset community.
RCMP Cracks Down on Illicit Activity Amid Growing Concerns in Crypto Sector
The RCMP’s Money Laundering Investigative Team launched the probe in June 2024 after receiving a tip from Europol. The investigation revealed that TradeOgre was operating without proper registration as a money services business. More alarming is that the exchange did not follow the client identification procedures, making it susceptible to misuse.
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The investigators are sure that the majority of the money that has been transferred on TradeOgre has an illicit origin, as the transferees took advantage of the anonymity option that the platform provides.
As part of the operation, the RCMP has completely dismantled the exchange. A large banner on the official site says, “This site and its crypto assets have been seized by the RCMP.” The exchange’s social media has also been silent, with the last activity registered on May 28, 2025.
Ongoing Investigation Signals More Crackdowns on Unregulated Crypto Platforms
While no charges have been filed yet, the RCMP has confirmed that the investigation is ongoing. This action emphasizes that Canada is starting to tighten its belt on unregulated cryptocurrency-related platforms, which is an indication of its strong position against platforms that exist on the shadowy side of the law.
This historic takeover is being felt throughout the Canadian crypto industry, with governments still targeting websites that enable crime. With the TradeOgre investigation still active, it remains to be seen what other actions the RCMP will take in the coming weeks.
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