In a latest announcement, the Canadian Royal Mounted Police (RCMP) said that it had carried out the most important cryptocurrency seizure in Canadian historical past. Notably, the RCMP seized digital property price 56 million CAD (40 million USD) from an unlicensed crypto alternate.
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 alternate within the nation’s historical past. The federal police company confiscated digital property price $40 million.
Notably, the property had 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 Group (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 cause to imagine that almost all of funds transacted on TradeOgre got here from prison sources. The principle attraction of the sort of platform, which doesn’t require customers to establish themselves to make an account, is that it hides the supply of funds. This can be a widespread tactic utilized by prison organizations that launder cash.
It’s price highlighting that TradeOgre’s web site now shows a banner from the RCMP, mentioning the seizure of crypto property from the platform. The official assertion provides that the transaction information obtained from the platform is being analyzed, and costs are more likely to comply with.
Digital Asset Seizures Round The World
The RCMP’s seizure of TradeOgre’s crypto property is simply the newest improvement within the world crypto seizure development. As a consequence of crypto’s lack of normal world laws, nefarious components are likely to reap the benefits of the shortage of oversight on the brand new asset class.
In July 2025, the US Division of Justice (DOJ) shared particulars on certainly one of its largest-ever digital property seizures. On the time, the DOJ confiscated digital property price $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 price of cryptocurrencies whereas concentrating on the Sinaloa cartel’s operations in Miami, Florida.
In associated information, the UK Authorities lately shared plans to promote confiscated BTC price $7 billion, in an try to finance part of the general public price range. Nevertheless, how a lot of it has already been bought stays to be seen.
Most lately, US authorities seized USDT price $600,000 from an Iranian nationwide accused of supplying important 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
Editorial Course of for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our workforce of high expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
