NextFin news, On Thursday, September 18, 2025, the Royal Canadian Mounted Police (RCMP) announced the seizure of more than 56 million Canadian dollars (approximately $40 million USD) in cryptocurrency from the TradeOgre exchange, marking the largest crypto asset confiscation in Canadian history.
The RCMP's Federal Policing – Eastern Region led the operation, which also resulted in the complete dismantling of TradeOgre, an unregistered cryptocurrency exchange that failed to comply with Canadian financial regulations, including Know Your Customer (KYC) requirements and registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
The investigation began in June 2024 after a tip from Europol prompted Canadian authorities to probe TradeOgre's activities. Working alongside financial crime, cybercrime units, and blockchain analytics firm Arkham Intelligence, the RCMP traced illicit funds flowing through the platform, which was widely used by criminal organizations to launder money.
TradeOgre, founded in 2018, specialized in trading privacy-focused cryptocurrencies such as Monero and various altcoins. Its lack of KYC checks and registration allowed users to trade anonymously, which investigators say facilitated the movement of criminal proceeds.
Authorities noted that the majority of the funds transacted on TradeOgre were of criminal origin. The exchange's website went offline in July 2025, and its social media accounts ceased activity, fueling speculation about law enforcement intervention. The RCMP confirmed that encoded messages embedded in Bitcoin transactions indicated the seizure of assets controlled by the police.
The RCMP stated that data recovered from TradeOgre will be analyzed further, with criminal charges expected to follow. No arrests have been reported yet.
This operation represents the first time Canadian law enforcement has shut down a cryptocurrency exchange, signaling a stronger stance against crypto-related money laundering and financial crime.
In related efforts, Canadian and U.S. authorities have intensified cooperation to combat crypto fraud and money laundering, with recent joint operations freezing hundreds of millions of dollars in illicit cryptocurrency assets.
The RCMP emphasized its commitment to working with financial partners and international agencies to identify and seize stolen assets, aiming to protect consumers and uphold the integrity of the financial system.
Explore more exclusive insights at nextfin.ai.
