In a latest announcement, the Canadian Royal Mounted Police (RCMP) acknowledged that it had carried out the most important cryptocurrency seizure in Canadian historical past. Notably, the RCMP seized digital belongings value 56 million CAD (40 million USD) from an unlicensed crypto trade.
Canadian Police Seize Crypto Price $40 Million
Canada’s nationwide police – the RCMP – lately shared particulars pertaining to the most important bust of an unlicensed crypto trade within the nation’s historical past. The federal police company confiscated digital belongings value $40 million.
Notably, the belongings have been seized from a non-KYC crypto buying and selling platform, TradeOgre. The incident additionally marked the primary time ever {that a} digital asset buying and selling platform was dismantled by Canadian regulation enforcement.
Following a tip from Europol, the Cash Laundering Investigative Crew (MLIT) opened the case in June 2024. Throughout their investigation, the company discovered that TradeOgre violated Canadian legal guidelines and laws about digital asset buying and selling platforms. The assertion reads:
Investigators have motive to consider that almost all of funds transacted on TradeOgre got here from legal sources. The principle attraction of one of these platform, which doesn’t require customers to determine themselves to make an account, is that it hides the supply of funds. This can be a widespread tactic utilized by legal organizations that launder cash.
It’s value highlighting that TradeOgre’s web site now shows a banner from the RCMP, mentioning the seizure of crypto belongings from the platform. The official assertion provides that the transaction information obtained from the platform is being analyzed, and expenses are prone to observe.
Digital Asset Seizures Round The World
The RCMP’s seizure of TradeOgre’s crypto belongings is simply the newest improvement within the world crypto seizure development. Because of crypto’s lack of normal world laws, nefarious parts are likely to make the most of the dearth of oversight on the brand new asset class.
In July 2025, the US Division of Justice (DOJ) shared particulars on one in every of its largest-ever digital belongings seizures. On the time, the DOJ confiscated digital belongings value $225 million, related to an in depth community of “pig butchering” scams.
Equally, the US Drug Enforcement Administration (DEA) – in affiliation with the Federal Bureau of Investigation (FBI) – seized greater than $10 million value of cryptocurrencies whereas focusing on the Sinaloa cartel’s operations in Miami, Florida.
In associated information, the UK Authorities lately shared plans to promote confiscated BTC value $7 billion, in an try and finance part of the general public finances. Nonetheless, how a lot of it has already been offered stays to be seen.
Most lately, US authorities seized USDT value $600,000 from an Iranian nationwide accused of supplying vital expertise to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% up to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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