By Rachel Lau
September 18, 2025
More than $56 million in cryptocurrency has been seized by the Royal Canadian Mounted Police. (RCMP)
More than $56 million in cryptocurrency has been seized by the Royal Canadian Mounted Police (RCMP) in the largest operation in Canadian history.
The money was recovered from the platform TradeOgre, marking, according to the force, the first time that a cryptocurrency exchange platform has been dismantled by Canadian law enforcement.
“The Money Laundering Investigative Team (MLIT) opened the file in June 2024, following a tip from Europol,” the RCMP states. “The investigation found that the platform contravened Canadian laws and regulations. Specifically, it failed to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business and did not identify its clients.”
Investigators say they have reason to believe that the majority of funds transacted on TradeOgre may be from criminal sources.
The platform, the RCMP explains, doesn’t require users to identify themselves to make an account.
It also hides the source of funds.
“This is a common tactic used by criminal organizations that launder money,” the RCMP notes.
The investigation is ongoing, and charges may follow.
Anyone with information on the illegal activities of individuals or groups is encouraged to contact the RCMP at 514-939-8300 or 1-800-771-5401, or visit their local police station.
Rachel Lau
Digital reporter
More than $56 million in cryptocurrency has been seized by the Royal Canadian Mounted Police (RCMP) in the largest operation in Canadian history.
The money was recovered from the platform TradeOgre, marking, according to the force, the first time that a cryptocurrency exchange platform has been dismantled by Canadian law enforcement.
“The Money Laundering Investigative Team (MLIT) opened the file in June 2024, following a tip from Europol,” the RCMP states. “The investigation found that the platform contravened Canadian laws and regulations. Specifically, it failed to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business and did not identify its clients.”
Investigators say they have reason to believe that the majority of funds transacted on TradeOgre may be from criminal sources.
The platform, the RCMP explains, doesn’t require users to identify themselves to make an account.
It also hides the source of funds.
“This is a common tactic used by criminal organizations that launder money,” the RCMP notes.
The investigation is ongoing, and charges may follow.
Anyone with information on the illegal activities of individuals or groups is encouraged to contact the RCMP at 514-939-8300 or 1-800-771-5401, or visit their local police station.
Rachel Lau
Digital reporter
No comments:
Post a Comment