Police Confirms Largest Crypto Seizure In Canadian History

The Royal Canadian Mounted Police (RCMP) has confirmed a record-breaking seizure of cryptocurrency linked to the centralized exchange TradeOgre, taking control of assets worth more than 56 million Canadian dollars—about 40 million US dollars—following a federal policing investigation in ￰0￱ agency described the operation as “the largest cryptocurrency seizure in Canadian history,” and said it dismantled the platform’s Canadian ￰1￱ news was announced on September 18 from Montréal. Canadian Police Confirms $40 Million Crypto Seizure According to details released by Canadian media quoting the RCMP, investigators seized servers in Beauharnois in the Montérégie region, which supported TradeOgre’s ￰2￱ ￰3￱ Lagarde said: “The servers that allowed this platform to conduct these transactions were located in ￰4￱ we seized these servers and then seized the crypto assets controlled by the exchange.” Authorities added that this marks the first time a cryptocurrency exchange has been dismantled by police in ￰5￱ yearlong probe was run by the RCMP Federal Policing – Eastern Region’s Money Laundering Investigative Team and began in June 2024 after a tip from Europol, according to the accounts of the investigation provided by authorities and reported by national ￰6￱ RCMP alleges TradeOgre failed to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business and did not identify its customers, conditions that investigators say allowed criminal organizations to conceal the origins of funds.

Open-source blockchain intelligence platform Arkham said its tooling was used in the ￰7￱ a public post, Arkham wrote that “as per the RCMP’s website, Arkham was used as part of the investigation,” and in a research note the firm documented earlier on-chain indicators—specifically messages embedded in Bitcoin transactions —signaling that Canadian police had claimed ownership of funds. Arkham’s report also noted TradeOgre’s social and site activity had gone dark earlier this summer (X account inactive since May; website offline since July 30). The RCMP said it is now analyzing transaction data from the platform and that enforcement actions may follow: “The transaction data obtained from the platform will be analyzed and charges may ￰8￱ investigation is ongoing.” Authorities emphasized that no arrests had been announced as of the release and encouraged anyone with relevant information to contact ￰9￱ the RCMP’s statement framed TradeOgre as an unregistered venue used to launder proceeds of crime, the seizure has already prompted a broader debate among some users who claim legitimate balances were swept up with illicit ￰10￱ is clear, however, is that Canadian law enforcement has established a new high-water mark for domestic crypto enforcement and, for the first time, has taken down the Canadian infrastructure of a cryptocurrency exchange as part of a money-laundering ￰11￱ press time, the total crypto market cap stood at $4 trillion.