TL;DR
- Historic Seizure: Canadian police executed the country’s largest crypto asset seizure, confiscating $40M from TradeOgre after a multi-agency investigation exposed illegal operations.
- Unlicensed Operations: TradeOgre was found to be operating without FINTRAC registration and failed to verify user identities, violating Canadian financial regulations and enabling anonymous transactions.
- Criminal Links: Authorities suspect the majority of funds on the platform originated from criminal activity, and further analysis of transaction data may lead to future charges.
In a landmark enforcement action, Canadian authorities have dismantled the cryptocurrency exchange TradeOgre and seized $40 million in digital assets, marking the largest crypto seizure in the nation’s history. The Royal Canadian Mounted Police (RCMP) announced the operation on September 18, 2025, revealing that the platform had been operating illegally and was likely used to launder funds from criminal sources. The seizure sends a strong signal to unregulated exchanges and highlights Canada’s tightening grip on crypto compliance.
Largest Crypto Seizure in Canadian History
The RCMP’s Federal Policing Eastern Region confirmed the recovery of over 56 million Canadian dollars ($40 million) in crypto assets from TradeOgre. This unprecedented seizure was the result of a multi-agency investigation involving financial crime, cybercrime, and cryptocurrency specialists. It is the first time Canadian law enforcement has successfully dismantled a crypto exchange platform, setting a new precedent for digital asset enforcement.
Europol Tip Sparks Investigation
The probe began in June 2024 after Europol tipped off Canadian authorities about suspicious activity on TradeOgre. The RCMP’s Money Laundering Investigative Team (MLIT) discovered that the exchange was operating without registration as a money services business under FINTRAC regulations. Investigators also found that TradeOgre failed to identify its users. This violation allowed anonymous transactions and concealed the origins of funds.
Criminal Origins of Funds Suspected
Authorities believe the majority of funds transacted on TradeOgre came from criminal sources. The platform’s lack of identity verification made it attractive to money launderers and criminal organizations seeking to obscure financial trails. The RCMP stated that transaction data obtained from the exchange will be analyzed further, and charges may follow as the investigation continues.
Platform Seized, Public Alert Issued
TradeOgre’s website now displays a seizure notice from the RCMP: “This site and its cryptoassets have been seized by the RCMP.” The exchange’s last known social media activity was in May 2025. Authorities have issued a public appeal for information related to illegal activities connected to the platform, urging citizens to contact law enforcement with any relevant leads.
