Canada’s Historic $40M Crypto Seizure Sparks Outrage

The Royal Canadian Mounted Police has executed the largest cryptocurrency seizure in the nation's history, confiscating C$56 million from platform TradeOgre. The unregistered exchange allegedly facilitated criminal transactions, with investigators tracing most funds to illicit activities.

Authorities acted on a Europol tip, uncovering violations of anti-money laundering regulations. The platform failed to verify user identities or register with FINTRAC, Canada's financial intelligence unit. Forensic analysis of transaction data continues, with potential charges pending.

Crypto communities have erupted in protest, with some decrying the seizure as government overreach. The case marks Canada's first dismantling of a cryptocurrency exchange, signaling heightened regulatory scrutiny of digital asset platforms.