In a current announcement, the Canadian Royal Mounted Police (RCMP) acknowledged that it had carried out the most important cryptocurrency seizure in Canadian historical past. Notably, the RCMP seized digital property value 56 million CAD (40 million USD) from an unlicensed crypto trade.
Canadian Police Seize Crypto Worth $40 Million
Canada’s nationwide police – the RCMP – lately shared particulars pertaining to the most important bust of an unlicensed crypto trade within the nation’s historical past. The federal police company confiscated digital property value $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 Money Laundering Investigative Team (MLIT) opened the case in June 2024. During their investigation, the company discovered that TradeOgre violated Canadian legal guidelines and rules about digital asset buying and selling platforms. The assertion reads:
Investigators have cause to consider that almost all of funds transacted on TradeOgre got here from prison sources. The major attraction of such a platform, which doesn’t require customers to determine themselves to make an account, is that it hides the supply of funds. This is a standard tactic utilized by prison organizations that launder cash.
It is value 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 knowledge obtained from the platform is being analyzed, and costs are prone to observe.
Digital Asset Seizures Around The World
The RCMP’s seizure of TradeOgre’s crypto property is simply the most recent improvement within the international crypto seizure pattern. Due to crypto’s lack of ordinary international rules, nefarious parts are inclined to make the most of the dearth of oversight on the brand new asset class.
In July 2025, the US Department of Justice (DOJ) shared particulars on one among its largest-ever digital property seizures. At the time, the DOJ confiscated digital property value $225 million, related to an intensive community of “pig butchering” scams.
Similarly, the US Drug Enforcement Administration (DEA) – in affiliation with the Federal Bureau of Investigation (FBI) – seized greater than $10 million value of cryptocurrencies whereas focusing on the Sinaloa cartel’s operations in Miami, Florida.
In associated information, the UK Government lately shared plans to promote confiscated BTC value $7 billion, in an try to finance part of the general public price range. However, how a lot of it has already been offered stays to be seen.
Most lately, US authorities seized USDT value $600,000 from an Iranian nationwide accused of supplying essential expertise to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% prior to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent evaluate by our crew of high expertise consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
