The Royal Canadian Mounted Police (RCMP) announced the seizure of approximately CAD 56 million (around USD 40 million) in cryptocurrency from TradeOgre, a digital asset exchange. The seizure took place during a large-scale anti-money laundering operation targeting suspicious financial flows linked to criminal activities.

According to authorities, the investigation revealed that significant amounts of illicit funds were being laundered through crypto platforms, raising concerns about the role of unregulated exchanges in facilitating illegal transactions. The RCMP stated that the seized assets are now under government custody pending further legal proceedings.

This operation marks one of the largest crypto-related law enforcement actions in Canada, signaling a firm stance against money laundering in the digital economy. By seizing funds on such a scale, Canadian authorities aim to send a clear message that cryptocurrency cannot be used as a safe haven for criminal activities.

The crackdown also emphasizes the importance of stronger regulations and compliance standards for cryptocurrency exchanges operating within Canada. As governments worldwide tighten oversight, industry players may face increasing pressure to adopt stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) practices.