In a groundbreaking development for the Canadian cryptocurrency landscape, the Royal Canadian Mounted Police (RCMP) has seized a staggering 56 million CAD (approximately 405 million USD) in digital assets from the crypto exchange TradeOgre. As stated in the official source, this operation represents the largest cryptocurrency seizure in Canada to date, highlighting the increasing scrutiny on crypto platforms and their compliance with financial regulations.
RCMP Takes Action Against TradeOgre
The RCMP's decisive action came after receiving a tip from European authorities regarding TradeOgre's non-compliance with money laundering regulations. Following the tip-off, the exchange was shut down, and its website is currently non-functional, displaying a notice of seizure by Canadian law enforcement.
Seized Cryptocurrencies
Among the cryptocurrencies seized are major assets such as:
- Bitcoin
- Ethereum
- XRP
- Litecoin
- Tron
- Qubic
Link to Criminal Activities
Investigators believe that a significant portion of the funds transacted on TradeOgre was linked to criminal activities, as the platform allowed users to operate without identification—a common practice exploited by criminal organizations for laundering money.
Ongoing Investigation
The investigation is still ongoing, with authorities planning to analyze transaction data from the platform, which could lead to potential charges against those involved. Meanwhile, users on Reddit have voiced their concerns over the exchange's abrupt silence and operational issues, with some speculating that it may be an exit scam.
Withdrawals Before Shutdown
Adding to the intrigue, blockchain data firm Arkham Intelligence reported that millions of dollars in cryptocurrency had been withdrawn from TradeOgre just before its shutdown, raising further questions about the exchange's practices and the fate of its users.
As tensions continue to rise, Israel's National Bureau for Counter Terror Financing has taken further steps in its fight against terrorism financing, previously releasing a list of cryptocurrency addresses linked to Iran's IRGC. For more details on this significant development, see the full report here.
