- RCMP seizes over $40M in cryptocurrency from TradeOgre, Canada’s largest crypto seizure.
- TradeOgre shutdown by the RCMP sets a significant precedent in global law enforcement for crypto.
- Global crypto enforcement grows, challenging the rise of privacy-focused exchanges.
Canada’s Royal Canadian Mounted Police (RCMP) has seized over 56M Canadian dollars (around $40M) in cryptocurrency from the exchange TradeOgre. This is the largest cryptocurrency seizure in Canadian history. The RCMP shut down the platform, sending a clear message about tightening crypto regulations.
The seizure follows a year-long investigation, triggered by a Europol tip in June 2024. Authorities tracked illicit flows of funds that had passed through TradeOgre, an exchange known for privacy-focused coins.
It is believed that criminal organizations used the platform to launder money. TradeOgre’s failure to adhere to KYC regulations and register with the Canadian financial intelligence agency FINTRAC led to its downfall.
TradeOgre Fall Highlights Privacy Coins, Illicit Funds, and Regulatory Risks
TradeOgre, which was established in 2018, served clients who wanted to trade privacy coins such as Monero. But as the platform expanded, its exposure to regulatory risks mounted. Officials had previously warned that exchanges without adequate regulatory oversight could fuel illicit activity.
The RCMP’s investigation, conducted with blockchain tracking company Arkham Intelligence, showed that the vast majority of assets that passed through TradeOgre had a criminal provenance. Although in demand by the privacy-focused traders, the platform’s opaque and non-transparent nature was becoming a negative in an era of crypto regulation.
TradeOgre’s clients, who had come to depend on the platform’s anonymity, were left in the dark after it went offline in July. Speculation swirled that it might be an exit scam. Blockchain analysts soon identified messages encoded in Bitcoin transactions stating “Crypto assets controlled by the RCMP.” These findings supported the RCMP’s official announcement that it had seized TradeOgre’s funds, marking the largest crypto asset seizure in Canada’s history.
Related: CrediX Hack: $4.5M Gone, Team Disappears Without a Trace
Rising Global Crypto Regulations Clash with Privacy-Centric Platforms
With regulatory pressure growing around the world, the conflict between privacy-focused applications and governments is also becoming apparent. In August 2025, both Canada and the U.S. reported record seizures related to fraud and money laundering. A significant operation was carried out by the T3 Financial Crime Unit with the assistance of companies such as Tether, Binance, and TRON.
This operation resulted in the seizure of over $250 million worth of illegal crypto. Another initiative, Project Atlas, traced over 2,000 crypto wallets related to scams and held $74 million in funds in 14 countries.
Operation Avalanche, a collaborative effort by US and Canadian authorities targeting Ethereum-based fraud, resulted in the confiscation of $4.3 million. The Secret Service of the US collaborated with other agencies to fight phishing scams and reclaim stolen funds for victims.
With increasing losses from crypto fraud and the emergence of ever more sophisticated scams, authorities are ramping up their efforts. What they’re doing is trying to find and take illicit assets. That is a clear message to anyone conducting illicit activities within the crypto space.
