Canadian police seize $40 million in crypto from unregistered exchange TradeOgre
Quick Take
- This is the largest cryptocurrency seizure in Canada’s history, according to the Royal Canadian Mounted Police.
- The Canadian police stated that TradeOgre has been operating an unlicensed platform, likely facilitating the laundering of funds for criminals.
Canada's national police service announced Thursday that it has seized 56 million Canadian dollars ($40 million) worth of crypto assets from non-KYC centralized crypto exchange TradeOgre.
This is the largest cryptocurrency seizure in the country's history, according to the official statement from the Royal Canadian Mounted Police (RCMP). The Canadian police have also dismantled the exchange.
The country's Money Laundering Investigative Team launched a probe on the exchange in June 2024 following a tip from Europol, the statement said. The team discovered that TradeOgre was running an unregistered operation as a money services business and failed to identify its clients.
"Investigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources," the statement said. "The main attraction of this type of platform, which doesn’t require users to identify themselves to make an account, is that it hides the source of funds."
The Canadian police haven't pressed charges yet on anyone associated with the trading platform, stating that the investigation is still ongoing.
TradeOgre's official website currently displays a banner from the RCMP that says — "This site and its cryptoassets have been seized by the RCMP." The exchange was last active on the social media platform X on May 28, 2025.
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