The Canadian RCMP seized over 56 million USD in cryptocurrency and shut down the TradeOgre platform

ChainCatcher news, according to the RCMP official website, the Royal Canadian Mounted Police (RCMP) Eastern Federal District has carried out the largest cryptocurrency seizure operation in the country's history, seizing over 56 million dollars and shutting down the cryptocurrency trading platform TradeOgre for the first time.

The investigation began in June 2024, stemming from a tip-off from Europol, which discovered that the platform was not registered as a financial services business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and did not conduct customer identity verification. Police believe that most of the platform's funds originated from criminal activities, and related transaction data will be further analyzed, with potential charges to follow.