The RCMP has announced the largest cryptocurrency seizure in Canadian history, confiscating over $56 million linked to suspected money laundering.
The RCMP revealed that it has seized more than $56 million in cryptocurrency after shutting down TradeOgre, an online exchange accused of facilitating criminal transactions. The seizure marks the largest of its kind in Canadian history and highlights the growing enforcement focus on unregulated crypto platforms.
According to investigators, the case began in June 2024 following a tip from Europol. TradeOgre, which allowed users to trade anonymously without providing identification, failed to register as a Money Services Business with Canada’s financial intelligence unit, FINTRAC. Authorities allege the platform was widely used by criminals to launder illicit funds.
The RCMP confirmed that TradeOgre has been taken offline, with a seizure notice now displayed on its website. Users had begun reporting problems in July, with many unable to access their funds or contact the exchange.
Officials say they are still analyzing the platform’s transaction records and have not ruled out further charges. The case raises questions about whether legitimate users will be able to recover funds and signals heightened scrutiny of crypto services operating outside Canadian regulations.
