TLDR:
- RCMP seizes $56M CAD in crypto from TradeOgre, marking Canada’s largest seizure in history.
- TradeOgre lacked FINTRAC registration and allowed anonymous accounts, aiding money laundering operations.
- Europol tipped Canadian authorities, triggering the anti-money laundering investigation in June 2024.
- RCMP says transaction data from TradeOgre will be analyzed, with potential charges forthcoming.
Canadian authorities have seized more than CAD 56 million, approximately $40 million USD, in cryptocurrency from the TradeOgre exchange. This operation marks the largest crypto confiscation in Canada’s history.
Canadian RCMP Conducts Record $56M Crypto Seizure
The Royal Canadian Mounted Police confirmed the seizure, noting that it is part of an ongoing investigation targeting illegal activity on the platform.
Authorities say TradeOgre allowed anonymous accounts, which concealed the origin of funds. Europol had alerted Canadian law enforcement, prompting the probe in June 2024.
The RCMP Federal Policing – Eastern Region led the investigation, with specialized teams focusing on financial crime, cybercrime, and cryptocurrencies. Investigators recovered the assets after identifying compliance failures.
TradeOgre had not registered with the Financial Transactions and Reports Analysis Centre of Canada, commonly known as FINTRAC. The platform also failed to verify the identity of its users, creating a vulnerability exploited by criminal organizations.
TradeOgre’s Compliance Failures Fuel Money Laundering Risks
Investigators found that TradeOgre’s lack of regulatory oversight enabled the flow of illicit funds through its system.
The RCMP reports that most transactions on the exchange likely originated from criminal sources. This setup made it difficult for authorities to track money and follow standard anti-money laundering procedures. Anonymous accounts allowed users to move funds without detection, a feature that drew criminal activity to the platform.
Arkham, a blockchain intelligence company, assisted the investigation by analyzing transaction patterns and tracing crypto movements.
According to a tweet by Arkham, the seizure represents the first time Canadian law enforcement has dismantled a cryptocurrency exchange platform. The data gathered from TradeOgre will undergo detailed examination.
Investigators aim to identify individuals involved and potentially pursue criminal charges once the analysis concludes.
CANADIAN POLICE CONFIRM $40M CRYPTO SEIZURE
The Royal Canadian Mounted Police has confirmed the seizure of $56M CAD (~$40M USD) of assets from TradeOgre, a centralized exchange.
This is the largest crypto asset seizure in Canadian history. As per the RCMP’s website, Arkham was… pic.twitter.com/YvkVPh8N7e
— Arkham (@arkham) September 18, 2025
The RCMP is appealing to the public for assistance. Authorities urge anyone with information about TradeOgre’s activities to contact local police or the RCMP tip line at 514-939-8300 or 1-800-771-5401. Investigators emphasized that cooperation could help uncover additional criminal networks operating through similar unregistered platforms.
This case demonstrates how regulators are increasingly focusing on unregistered crypto platforms and the risks they pose to financial systems.
While the investigation continues, Canadian authorities have highlighted the importance of complying with FINTRAC regulations and maintaining user transparency. TradeOgre’s seizure may also serve as a warning to other platforms operating without proper oversight.
