RCMP Seizes $56M CAD in Crypto, Shuts Down TradeOgre in Canada’s Largest Digital Asset Bust

The Royal Canadian Mounted Police have made history with the country's largest cryptocurrency seizure, confiscating over $56 million CAD from the now-defunct exchange TradeOgre. This landmark operation represents Canada's first takedown of a crypto trading platform, signaling heightened regulatory scrutiny.

Authorities allege TradeOgre operated without proper registration as a money services business and failed to implement mandatory customer identification procedures. The platform's anonymity features allegedly made it a haven for criminal organizations laundering illicit funds.

Investigators from the Money Laundering Investigative Team spent a year building their case after receiving an initial tip from Europol in June 2024. Forensic analysis of transaction records continues, with potential criminal charges pending.