2025-09-20 05:00:51
Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange TradeOgre
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In a recent announcement , the Canadian Royal Mounted Police (RCMP) stated that it had carried out the largest cryptocurrency seizure in Canadian history. Notably, the RCMP seized digital assets worth 56 million CAD (40 million USD) from an unlicensed crypto exchange. Canadian Police Seize Crypto Worth $40 Million Canada’s national police – the RCMP – recently shared details pertaining to the biggest bust of an unlicensed crypto exchange in the country’s history. The federal police agency confiscated digital assets worth $40 million. Notably, the assets were seized from a non-KYC crypto trading platform, TradeOgre. The incident also marked the first time ever that a digital asset trading platform was dismantled by Canadian law enforcement. Following a tip from Europol, the Money Laundering Investigative Team (MLIT) opened the case in June 2024. During their investigation, the agency found that TradeOgre violated Canadian laws and regulations about virtual asset trading platforms. The statement reads: Investigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources. The main attraction of this type of platform, which doesn’t require users to identify themselves to make an account, is that it hides the source of funds. This is a common tactic used by criminal organizations that launder money. It is worth highlighting that TradeOgre’s website now displays a banner from the RCMP, mentioning the seizure of crypto assets from the platform. The official statement adds that the transaction data obtained from the platform is being analyzed, and charges are likely to follow. Digital Asset Seizures Around The World The RCMP’s seizure of TradeOgre’s crypto assets is just the latest development in the global crypto seizure trend. Due to crypto’s lack of standard global regulations, nefarious elements tend to take advantage of the lack of oversight on the new asset class. In July 2025, the US Department of Justice (DOJ) shared details on one of its largest-ever digital assets seizures. At the time, the DOJ confiscated digital assets worth $225 million, associated with an extensive network of “pig butchering” scams. Similarly, the US Drug Enforcement Administration (DEA) – in association with the Federal Bureau of Investigation (FBI) – seized more than $10 million worth of cryptocurrencies while targeting the Sinaloa cartel’s operations in Miami, Florida. In related news, the UK Government recently shared plans to sell confiscated BTC worth $7 billion, in an attempt to finance a part of the public budget. However, how much of it has already been sold remains to be seen. Most recently, US authorities seized USDT worth $600,000 from an Iranian national accused of supplying critical technology to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% in the past 24 hours.