{"id":153635,"date":"2025-09-18T23:21:15","date_gmt":"2025-09-18T23:21:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/153635\/"},"modified":"2025-09-18T23:21:15","modified_gmt":"2025-09-18T23:21:15","slug":"rcmp-claim-record-cryptocurrency-seizure-of-56m-in-money-laundering-probe","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/153635\/","title":{"rendered":"RCMP claim record cryptocurrency seizure of $56M in money laundering probe"},"content":{"rendered":"

The RCMP<\/a> on Thursday said it seized more than $56 million from a cryptocurrency<\/a> exchange platform authorities accuse of facilitating money laundering<\/a>, calling it the largest crypto seizure in Canadian history.<\/p>\n

\"\"<\/p>\n

\u201cThis also marks the first time that a cryptocurrency exchange platform has been dismantled by Canadian law enforcement,\u201d the RCMP\u2019s Eastern Region federal policing division, based in Montreal, said in a statement.<\/p>\n

The Canadian investigation into TradeOgre<\/a> began in June 2024, following a tip from the European Union\u2019s policing agency Europol to the RCMP\u2019s money laundering division.<\/p>\n

According to the RCMP, investigators found TradeOgre violated Canadian laws and regulations by not registering with Fintrac as a money services business and did not identify its clients.<\/p>\n

\u201cInvestigators have reason to believe that the majority of funds transacted on TradeOgre came from criminal sources,\u201d the RCMP statement said.<\/p>\n

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\u201cThe main attraction of this type of platform, which doesn\u2019t require users to identify themselves to make an account, is that it hides the source of funds. This is a common tactic used by criminal organizations that launder money.\u201d<\/p>\n

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Police added \u201ccharges may follow\u201d after the transaction data obtained from the platform is analyzed.<\/p>\n

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Messages seeking comment from TradeOgre were not responded to Thursday.<\/p>\n

Concerns about TradeOgre going \u201cradio silent\u201d and offline began circulating on Reddit<\/a> in late July, with asset holders complaining they could no longer access funds or get in contact with the platform.<\/p>\n

Around that time, according to the cryptocurrency analysis publication The Rage<\/a>, all funds from TradeOgre were transferred to \u201can address allegedly controlled by the Canadian government.\u201d The transaction included the message \u201cCrypto assets controlled by the RCMP,\u201d the post said.<\/p>\n

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TradeOgre appears to have been popular with users of Monero<\/a>, a blockchain-based cryptocurrency that advertises itself as \u201csecure, private, untraceable.\u201d<\/p>\n

According to an analysis by BitDegree<\/a>, TradeOgre was launched in 2018 with headquarters based in California.<\/p>\n

Although it could not share current data on the platform due to \u201cexchange inactivity,\u201d the analysis said it had a trading volume of over US$1.9 billion in the last seven days.<\/p>\n

It saw zero dollars of trading in the last 24 hours.<\/p>\n

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\n\t\t&copy 2025 Global News, a division of Corus Entertainment Inc.\t<\/p>\n","protected":false},"excerpt":{"rendered":"The RCMP on Thursday said it seized more than $56 million from a cryptocurrency exchange platform authorities accuse…\n","protected":false},"author":2,"featured_media":153636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,2169,4614,134,81070,920,81071],"class_list":["post-153635","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-crime","tag-cryptocurrency","tag-money","tag-money-laundering","tag-rcmp","tag-tradeogre"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/153635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=153635"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/153635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/153636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=153635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=153635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=153635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}