Canada Seizes $56M in Bitcoin, XRP and Other Crypto as It Shutters Exchange TradeOgre

September 18, 2025

in Web3

Reading Time: 3 mins read

Briefly

Crypto trade TradeOgre stopped working months in the past.
Canadian police stated they shut down the trade and seized $56 million CAD ($40.5 million USD) in crypto from the platform.
The Royal Canadian Mounted Police stated it was the nation’s largest crypto seizure.

Canadian police have confiscated $56 million CAD ($40.5 million USD) in digital belongings after shuttering an trade within the nation’s largest crypto seizure but, in response to an announcement by the Royal Canadian Mounted Police (RCMP) on Thursday.

The RCMP stated that they took down the crypto trade TradeOgre after a tip from European authorities, and that the platform didn’t adjust to cash laundering laws.

TradeOgre’s web site not works, as an alternative exhibiting a message that it has been seized by Canadian police. RCMP informed Decrypt that it had seized Bitcoin, Ethereum, XRP, Litecoin, Tron, and Qubic thus far within the operation.

“Investigators have motive to imagine that almost all of funds transacted on TradeOgre got here from felony sources,” the RCMP assertion stated.

“The primary attraction of one of these platform, which does not require customers to establish themselves to make an account, is that it hides the supply of funds. It is a widespread tactic utilized by felony organizations that launder cash.”

It added: “The transaction information obtained from the platform will likely be analyzed and costs could comply with. The investigation is ongoing.”

Posts on Reddit present individuals asking why the trade had stopped responding and dealing for customers two months in the past.

One consumer wrote: “Guys, what the hell is going on at TradeOgre? They’ve been radio silent and offline for like 24 hours now, I had round 25k USDT so as deposited on the platform, is it an exit rip-off? What is the newest information?”

TradeOgre didn’t reply to Decrypt’s request for remark.

Blockchain information agency Arkham Intelligence stated in a weblog submit that it had been following TradeOgre transactions as thousands and thousands of {dollars} in crypto left the trade.

It added that the trade allowed customers to commerce in privateness cash—cryptocurrecnies whose transaction information is essentially hidden to permit for nameless cash actions.

Bitcoin was just lately buying and selling at $116,670, up 1.8% over the previous 24 hours and almost 3% over the previous week.