In a current announcement, the Canadian Royal Mounted Police (RCMP) acknowledged that it had carried out the most important cryptocurrency seizure in Canadian historical past. Notably, the RCMP seized digital belongings price 56 million CAD (40 million USD) from an unlicensed crypto change.
Canadian Police Seize Crypto Value $40 Million
Canada’s nationwide police – the RCMP – just lately 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 price $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 Cash Laundering Investigative Workforce (MLIT) opened the case in June 2024. Throughout 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 cause to consider that almost all of funds transacted on TradeOgre got here from felony sources. The primary attraction of the sort of platform, which doesn’t require customers to establish themselves to make an account, is that it hides the supply of funds. This can be a frequent tactic utilized by felony organizations that launder cash.
It’s price 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 knowledge obtained from the platform is being analyzed, and prices are more likely to observe.
Digital Asset Seizures Round The World
The RCMP’s seizure of TradeOgre’s crypto belongings is simply the newest growth within the international crypto seizure development. Resulting from crypto’s lack of ordinary international laws, nefarious parts are likely to benefit from the dearth of oversight on the brand new asset class.
In July 2025, the US Division of Justice (DOJ) shared particulars on considered one of its largest-ever digital belongings seizures. On the time, the DOJ confiscated digital belongings price $225 million, related to an in depth community of “pig butchering” scams.
Equally, the US Drug Enforcement Administration (DEA) – in affiliation with the Federal Bureau of Investigation (FBI) – seized greater than $10 million price of cryptocurrencies whereas focusing on the Sinaloa cartel’s operations in Miami, Florida.
In associated information, the UK Authorities just lately shared plans to promote confiscated BTC price $7 billion, in an try and finance part of the general public price range. Nevertheless, how a lot of it has already been offered stays to be seen.
Most just lately, US authorities seized USDT price $600,000 from an Iranian nationwide accused of supplying crucial know-how to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% prior to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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