The Royal Canadian Mounted Police (RCMP) has conducted Canada's largest cryptocurrency seizure operation, confiscating over $56 million CAD in digital assets from the TradeOgre exchange platform. This historic enforcement action represents both a record-breaking cryptocurrency seizure and the first time Canadian law enforcement has successfully shut down a cryptocurrency trading platform.
According to the RCMP's Eastern Region division, this major crypto bust followed an extensive year-long investigation conducted by the Money Laundering Investigative Team (MLIT). The case originated in June 2024 after Europol provided intelligence indicating TradeOgre's potential non-compliance with Canadian financial regulations.
Authorities determined that TradeOgre operated without proper registration with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) as a money services business. The platform also failed to implement mandatory client identity verification procedures, creating significant anti-money laundering compliance gaps.
The RCMP investigation revealed that substantial funds processed through TradeOgre originated from illegal activities. The platform's anonymous account features allegedly provided organized crime groups with tools to conceal illicit fund origins and facilitate money laundering operations.
RCMP officials confirmed that transaction data obtained from TradeOgre is undergoing comprehensive analysis, with potential criminal charges pending as the investigation continues to develop.