Canadian Law Enforcers Recover $56M in Nation’s Largest | Crypto Work Pro
Canadian police have seized more than $56 million CAD
in cryptocurrency and shut down a trading platform, marking the nation’s “largest
cryptocurrency seizure in Canadian historical past.”
Year-Long Investigation
The Royal Canadian Mounted Police (RCMP) stated its
Eastern Region’s Money Laundering Investigative Team (MLIT) started probing the
platform in June 2024 after receiving a tip from Europol.
RCMP say $56-million TradeOgre cryptocurrency seizure is greatest in Canadian historical past https://t.co/Gz8jCpRxdk pic.twitter.com/nGFB3dO2Xw
— Montreal Gazette (@mtlgazette) September 18, 2025
Digital property meet tradfi in London on the fmls25
“RCMP Federal Policing – Eastern Region has carried
out the most important cryptocurrency seizure in Canadian historical past,” the authorities
introduced.
“Thanks to the work of investigators specialised in
financial crime, cybercrime, and cryptocurrencies, an estimated sum of over
56 million {dollars} was recovered from the platform TradeOgre.”
The investigation revealed that TradeOgre had not
registered with the Financial Transactions and Reports Analysis Centre of
Canada (FINTRAC) and did not confirm buyer identities.
Illicit Funds Alleged
According to investigators, most funds shifting by
the platform originated from legal exercise. Authorities stated TradeOgre’s
nameless account setup made it a channel for organized crime teams to obscure
the source of illicit proceeds.
According to the businesses, “Investigators have purpose to
imagine that almost all of funds transacted on TradeOgre got here from legal
sources. The important attraction of this kind of platform, which doesn’t require
customers to determine themselves to make an account, is that it hides the source of
funds.”
The case marks the primary time Canadian police have
dismantled a cryptocurrency exchange. Officials stated the seizure highlights
growing efforts to implement compliance amongst trading platforms and to focus on
money-laundering exercise in the digital asset sector.
Meanwhile, the Canadian Securities Administrators issued a
warning about fraudulent “investment groups” that have been spreading throughout social
media platforms final 12 months. These teams, working primarily on Facebook and
Instagram, enticed people with guarantees of high returns, solely to go away
many buyers going through vital financial losses.
Keep studying: Canadian Securities Regulator Uncovers Social Media Investment Scams
According to the regulator, the scams usually took the shape of
so-called “pump and dump” schemes. Fraudsters would promote a stock they
already owned, creating synthetic hype and inflating its price.
The CSA famous that these scams have been ceaselessly organized
by personal WhatsApp teams. Scammers would first appeal to potential victims
by public promotions on social media, then transfer them into encrypted chats.
Canadian police have seized more than $56 million CAD
in cryptocurrency and shut down a trading platform, marking the nation’s “largest
cryptocurrency seizure in Canadian historical past.”
Year-Long Investigation
The Royal Canadian Mounted Police (RCMP) stated its
Eastern Region’s Money Laundering Investigative Team (MLIT) started probing the
platform in June 2024 after receiving a tip from Europol.
RCMP say $56-million TradeOgre cryptocurrency seizure is greatest in Canadian historical past https://t.co/Gz8jCpRxdk pic.twitter.com/nGFB3dO2Xw
— Montreal Gazette (@mtlgazette) September 18, 2025
Digital property meet tradfi in London on the fmls25
“RCMP Federal Policing – Eastern Region has carried
out the most important cryptocurrency seizure in Canadian historical past,” the authorities
introduced.
“Thanks to the work of investigators specialised in
financial crime, cybercrime, and cryptocurrencies, an estimated sum of over
56 million {dollars} was recovered from the platform TradeOgre.”
The investigation revealed that TradeOgre had not
registered with the Financial Transactions and Reports Analysis Centre of
Canada (FINTRAC) and did not confirm buyer identities.
Illicit Funds Alleged
According to investigators, most funds shifting by
the platform originated from legal exercise. Authorities stated TradeOgre’s
nameless account setup made it a channel for organized crime teams to obscure
the source of illicit proceeds.
According to the businesses, “Investigators have purpose to
imagine that almost all of funds transacted on TradeOgre got here from legal
sources. The important attraction of this kind of platform, which doesn’t require
customers to determine themselves to make an account, is that it hides the source of
funds.”
The case marks the primary time Canadian police have
dismantled a cryptocurrency exchange. Officials stated the seizure highlights
growing efforts to implement compliance amongst trading platforms and to focus on
money-laundering exercise in the digital asset sector.
Meanwhile, the Canadian Securities Administrators issued a
warning about fraudulent “investment groups” that have been spreading throughout social
media platforms final 12 months. These teams, working primarily on Facebook and
Instagram, enticed people with guarantees of high returns, solely to go away
many buyers going through vital financial losses.
Keep studying: Canadian Securities Regulator Uncovers Social Media Investment Scams
According to the regulator, the scams usually took the shape of
so-called “pump and dump” schemes. Fraudsters would promote a stock they
already owned, creating synthetic hype and inflating its price.
The CSA famous that these scams have been ceaselessly organized
by personal WhatsApp teams. Scammers would first appeal to potential victims
by public promotions on social media, then transfer them into encrypted chats.
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