Canadian police have seized the trading platform TradeOgre and confiscated $40 million worth of encryption assets.

On September 19, The Block reported that the Royal Canadian Mounted Police (RCMP) announced on Thursday that they had seized Crypto Assets worth 56 million Canadian dollars (approximately 40 million US dollars) from the local cryptocurrency trading platform TradeOgre. According to the official statement from the RCMP, this is the largest cryptocurrency seizure operation in the country's history. Canadian police have also shut down the trading platform. The statement mentioned that the country's anti-money laundering investigation team began investigating TradeOgre in June 2024 based on leads from Europol. The investigation found that the trading platform operated as a money service business without being registered and failed to fulfill customer identification obligations. The statement pointed out: "Investigators have reason to believe that most of the funds traded on TradeOgre come from criminal activities. The core allure of such platforms, which allow users to open accounts without real-name verification, lies in their ability to hide the sources of funds." Canadian police have not yet laid any charges against any individuals associated with the trading platform and stated that the investigation is still ongoing.