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Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange TradeOgre
Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange TradeOgre
22
3
BTCCSquare news:
Canadian authorities have executed the largest cryptocurrency seizure in the nation's history, confiscating digital assets worth 56 million CAD ($40 million USD) from the unlicensed exchange TradeOgre. The Royal Canadian Mounted Police (RCMP) dismantled the platform following a tip from Europol, marking the first such enforcement action against a crypto trading venue in Canada.
TradeOgre operated without Know-Your-Customer (KYC) protocols, attracting illicit funds by enabling anonymous transactions. Investigators determined that criminal organizations predominantly used the platform to launder money. The case underscores growing regulatory scrutiny of unlicensed crypto operations worldwide.
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