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2h ago

RCMP Dismantles TradeOgre, Seizes C$56 Million in Canada’s Biggest Crypto Bust

A Europol tip sparked a yearlong probe that now moves into forensic review for potential charges.

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canada
In this image supplied by the RCMP, officers are seen working. The RCMP said their money-laundering team began an investigation last year after a tip from European authorities
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Overview

  • The RCMP’s Eastern Region says this is the first time Canadian law enforcement has taken down a cryptocurrency exchange platform.
  • Investigators allege TradeOgre operated without FINTRAC registration and lacked customer identity checks, claiming most flows were criminal in origin.
  • Seized assets include Bitcoin, Ethereum, XRP, Litecoin, Tron and Qubic, with the total valued at C$56 million.
  • Police say servers supporting the platform were confiscated in the Beauharnois area of Quebec, and the site now displays an RCMP seizure notice.
  • No arrests have been announced as the investigation continues, while users reported withdrawal problems over the summer and some industry figures demand recourse for legitimate balances.