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crypto

Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange TradeOgre

Ash Tiwari
by Ash Tiwari
1 hour ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a recent announcement, the Canadian Royal Mounted Police (RCMP) stated that it had carried out the largest cryptocurrency seizure in Canadian history. Notably, the RCMP seized digital assets worth 56 million CAD (40 million USD) from an unlicensed crypto exchange.

Canadian Police Seize Crypto Worth $40 Million

Canada’s national police – the RCMP – recently shared details pertaining to the biggest bust of an unlicensed crypto exchange in the country’s history. The federal police agency confiscated digital assets worth $40 million.

Related Reading: Illegal Crypto Network Uncovered In UK: ATMs Seized, Arrests Made

Notably, the assets were seized from a non-KYC crypto trading platform, TradeOgre. The incident also marked the first time ever that a digital asset trading platform was dismantled by Canadian law enforcement.

Following a tip from Europol, the Money Laundering Investigative Team (MLIT) opened the case in June 2024. During their investigation, the agency found that TradeOgre violated Canadian laws and regulations about virtual asset trading platforms. The statement reads:

Investigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources. 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. This is a common tactic used by criminal organizations that launder money.

It is worth highlighting that TradeOgre’s website now displays a banner from the RCMP,  mentioning the seizure of crypto assets from the platform. The official statement adds that the transaction data obtained from the platform is being analyzed, and charges are likely to follow.

Digital Asset Seizures Around The World

The RCMP’s seizure of TradeOgre’s crypto assets is just the latest development in the global crypto seizure trend. Due to crypto’s lack of standard global regulations, nefarious elements tend to take advantage of the lack of oversight on the new asset class.

Related Reading: Ransomware Empire Falls: Feds Strip BlackSuit Of $1 Million In Crypto

In July 2025, the US Department of Justice (DOJ) shared details on one of its largest-ever digital assets seizures. At the time, the DOJ confiscated digital assets worth $225 million, associated with an extensive network of “pig butchering” scams.

Similarly, the US Drug Enforcement Administration (DEA) – in association with the Federal Bureau of Investigation (FBI) – seized more than $10 million worth of cryptocurrencies while targeting the Sinaloa cartel’s operations in Miami, Florida.

In related news, the UK Government recently shared plans to sell confiscated BTC worth $7 billion, in an attempt to finance a part of the public budget. However, how much of it has already been sold remains to be seen.

Most recently, US authorities seized USDT worth $600,000 from an Iranian national accused of supplying critical technology to Iran’s regime. At press time, BTC trades at $115,919, down 1.3% in the past 24 hours.

crypto
Bitcoin trades at $115,919 on the daily chart | Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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