RCMP Seizes $56M CAD in Crypto, Shuts Down TradeOgre in Canada’s Largest Digital Asset Bust

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By Margaux Nijkerk , AI Boost | Edited by Nikhilesh De Sep 18, 2025, 4:42 p.m. (Jason Hafso/Unsplash) What to know : The Royal Canadian Mounted Police (RCMP) have executed the country’s largest cryptocurrency seizure to date, recovering more than $56 million CAD in crypto from the exchange TradeOgre. The move not only marks a record seizure but also the first time Canadian authorities have dismantled a cryptocurrency trading platform, the RCMP said in a press release . The Royal Canadian Mounted Police (RCMP) have executed the country’s largest cryptocurrency seizure to date, recovering more than $56 million CAD in crypto from the exchange TradeOgre. The move not only marks a record seizure but also the first time Canadian police authorities have dismantled a cryptocurrency trading platform, the RCMP said in a press release . STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . According to the authorities' Eastern Region division, the seizure followed a year-long probe by the Money Laundering Investigative Team (MLIT) . The case began in June 2024 after a tip from Europol came in, which flagged the platform’s alleged non-compliance with Canadian law. Investigators determined that TradeOgre had failed to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business and neglected to verify the identities of its clients, the authorities claim. The RCMP allege that most of the funds passing through TradeOgre stemmed from illicit sources. By offering anonymous account creation, the platform provided an easy gateway for organized crime groups seeking to conceal the origins of their money, they claim. "The transaction data obtained from the platform will be analyzed and charges may follow. The investigation is ongoing," RCMP wrote in their press release. Canada Crypto Seizures AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Australia's Financial Watchdog Offers Exemptions to Stablecoin Intermediaries By Jamie Crawley | Edited by Sheldon Reback 8 hours ago The exemptions mean intermediaries do not require a a separate Australian financial services license to distribute licensed stablecoins. What to know : Australia's ASIC will exempt stablecoin intermediaries from needing a financial services license. The exemption applies to intermediaries distributing stablecoins minted by issuers who are already licensed. This move aligns with Australia's broader strategy to integrate digital assets into its economy. 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