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Canadian Law Enforcers Recover $56M in Nation’s Largest Crypto Seizure
Canadian Law Enforcers Recover $56M in Nation’s Largest Crypto Seizure
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BTCCSquare news:
Canadian authorities have seized over CAD $56 million in cryptocurrency and dismantled the trading platform TradeOgre, marking the country's largest crypto-related asset forfeiture. The Royal Canadian Mounted Police (RCMP) initiated the investigation in June 2024 following a tip from Europol, targeting the unregistered exchange's alleged role in money laundering.
TradeOgre operated without FINTRAC registration or proper customer identification protocols, creating an anonymous conduit for criminal proceeds. Investigators determined most platform transactions involved illicit funds, with organized crime groups exploiting the exchange's lax oversight. This case represents Canada's first successful takedown of a cryptocurrency trading venue.
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