Canadian police seized cryptocurrency worth 56 million Canadian dollars and shut down TradeOgre platform

PANews reported on September 19 that according to CoinDesk, the Royal Canadian Mounted Police (RCMP) carried out the country's largest cryptocurrency seizure operation to date, recovering more than 56 million Canadian dollars from TradeOgre exchange, setting a record of seizure amount. It is also the first time that the Canadian police have successfully destroyed a cryptocurrency trading platform. The operation is the result of a year-long investigation by the Money Laundering Investigation Team, which was caused by clues provided by Europol in June 2024, saying that the platform is suspected of being illegal. Police found that TradeOgre was not registered with the Canadian Financial Transactions and Reporting Analysis Center and did not verify the identity of the client. The RCMP accused that most of the funds flowing through the platform came from illegal channels, and that it allowed anonymous account opening to facilitate criminal groups to cover up the source of funds. The transaction data is currently being analyzed, and the investigation is still underway, and subsequent allegations may be filed.