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Canada Takes a Stand: Major Crypto Exchange Shutdown Amid $56M Seizure

In a landmark move, Canadian authorities have shut down the TradeOgre exchange, seizing a staggering CAD 56 million in cryptocurrency assets.

This represents the largest crypto seizure in Canadian history and marks the first complete dismantling of a crypto exchange in the nation.

The operation was initiated following a tip from Europol in June 2024, revealing significant breaches of financial regulations and ties to widespread money laundering activities.

On September 18, 2025, the RCMP declared the seizure a significant victory in the fight against illicit digital finance.

A warning on the TradeOgre webpage now indicates that the site and its assets have been confiscated, serving as a cautionary notice to other unregulated platforms.

The investigation uncovered that TradeOgre had operated without necessary registration with FINTRAC and lacked user authentication measures, making it a hotspot for illegal transactions.

As authorities continue to analyze previous transactions, potential criminal charges may be on the horizon for those involved.

This case underscores the dangers posed by unregulated exchanges that create avenues for shadow financial networks, evading government oversight.

Canada's decisive action is a wake-up call for other non-compliant exchanges, reinforcing the country's commitment to protecting its financial integrity.

As the investigation unfolds, this seizure symbolizes a historic win for Canadian law enforcement against money laundering facilitated by cryptocurrencies.