Canadian police seize $40M crypto, dismantle TradeOgre

Canada’s national police seized C$56 million (~$40 million) in crypto from TradeOgre, calling it the country’s largest cryptocurrency seizure. The case began in June 2024 after a Europol tip, which found that the platform was unregistered and did not verify clients.

The Royal Canadian Mounted Police (RCMP) said its Federal Policing – Eastern Region recovered an estimated C$56 million from TradeOgre and dismantled the platform following an investigation led by specialist teams in financial crime, cybercrime and cryptocurrencies. Officials described the action as a national record and the first time Canadian law enforcement has taken down a crypto exchange.

According to the statement, the Money Laundering Investigative Team (MLIT) opened the file in June 2024 after receiving a tip from Europol. Investigators determined the platform failed to register with FINTRAC as a money services business and did not identify its clients, contravening Canadian laws and regulations.

“Investigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources,” the RCMP said.

The force added that transaction data obtained from the platform will now be analysed. Charges may follow, but none have been announced as the investigation remains ongoing. The statement was dated September 18, 2025 and issued from Montréal, Quebec by the RCMP Federal Policing Eastern Region.

As part of the action, the official TradeOgre website displays a seizure banner notifying visitors that the site and its crypto assets have been taken over by the RCMP. The exchange’s last post on X dates to May 27, 2025.

The RCMP highlighted the appeal of platforms that do not require identity checks: by masking the source of funds, they can be used by criminal organizations to launder money. Investigators said this was a key risk factor in the TradeOgre case and formed part of the rationale for the takedown.

The measure follows a multi‑agency workflow: Europol’s tip led to MLIT’s initial probe, which expanded to involve RCMP teams focused on cyber and crypto. The next phase centres on forensic review of on‑platform transaction data, potential tracing of flows and preparation of any charges.

TradeOgre is referred to in the RCMP materials as a local crypto exchange. The announcement did not name individuals associated with the platform, and it did not specify a timeline for potential court filings. The police reiterated an appeal to the public to share information on suspected illegal activity with the RCMP or local authorities.