Major Cryptocurrency Seizure by Canadian Authorities
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Historic Cryptocurrency Confiscation by the Canadian Police
In a groundbreaking move, the Royal Canadian Mounted Police (RCMP) has executed the largest cryptocurrency confiscation in the nation’s history. The authorities successfully seized digital currencies valued at 56 million CAD (equivalent to 40 million USD) from an unauthorized crypto exchange.
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RCMP’s Unprecedented Crypto Seizure: A Closer Look
The RCMP, Canada’s national law enforcement agency, has disclosed significant details about the most prominent crackdown on an unlicensed cryptocurrency exchange to date. The federal police force managed to confiscate digital assets worth 40 million USD.
This extraordinary seizure involved the non-KYC compliant platform, TradeOgre. It marks the first instance of Canadian law enforcement dismantling a digital asset trading platform. The operation commenced following intelligence provided by Europol, which led the Money Laundering Investigative Team (MLIT) to initiate the case in June 2024. The investigation revealed that TradeOgre was in breach of Canadian regulations governing virtual asset trading platforms. According to the RCMP’s findings:
The investigators suspect that the majority of transactions on TradeOgre were linked to illicit activities. The platform’s appeal lies in its requirement-free account creation, obscuring the origins of funds. Such strategies are frequently exploited by criminal entities engaged in money laundering.
Currently, TradeOgre’s website prominently displays an RCMP notification regarding the crypto asset seizure. Authorities are analyzing the transaction data retrieved from the platform, with potential charges looming.
Global Trends in Digital Asset Seizures
The RCMP’s action against TradeOgre is a part of a broader, global trend of cryptocurrency seizures. Due to the absence of uniform global regulations, malicious actors often exploit the lack of oversight within the cryptocurrency ecosystem.
In July 2025, the United States Department of Justice (DOJ) announced one of its most significant digital asset seizures, confiscating assets valued at 225 million USD linked to widespread “pig butchering” fraud schemes. Similarly, the U.S. Drug Enforcement Administration (DEA), in collaboration with the Federal Bureau of Investigation (FBI), seized over 10 million USD worth of cryptocurrencies from operations tied to the Sinaloa cartel in Miami, Florida.
In related developments, the United Kingdom government has unveiled plans to liquidate seized Bitcoin worth 7 billion USD as part of its strategy to fund the public budget, although the exact amount sold remains undisclosed.
Recently, U.S. authorities confiscated USDT valued at 600,000 USD from an Iranian national accused of providing critical technology to the Iranian regime. At the time of reporting, Bitcoin is trading at 115,919 USD, experiencing a 1.3% decrease over the past 24 hours.
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