Canadian authorities seized over $40 million in assets from TradeOgre, the country’s largest crypto seizure. The RCMP dismantled the exchange after a year-long investigation into money laundering activities. TradeOgre’s lack of registration and KYC checks violated Canadian regulations. The majority of funds were believed to be of criminal origin.

Blockchain watchers noticed funds linked to TradeOgre being transferred to wallets with encrypted messages, confirming RCMP’s involvement. The agency claimed ownership of the $40 million in crypto assets seized. Criminal charges are expected as data from the exchange is analyzed. TradeOgre did not respond to requests for comment.

Canada and the U.S. are intensifying efforts against crypto crime, seizing over $300 million tied to fraud and money laundering. The T3 Financial Crime Unit, alongside TRM Labs, Tether, Binance, and TRON, froze $250 million in illicit assets. Project Atlas blocked $74 million with Chainalysis, preventing theft across 14 countries. Operation Avalanche focused on Ethereum-based fraud, seizing $4.3 million.

The U.S. Department of Justice announced its largest-ever Tether seizure of $225 million linked to a global scam. FBI reports show investors lost $9.3 billion to crypto fraud in 2024, up 66% from the previous year. Officials warn of ransomware threats to U.S. infrastructure, with over 5,400 people notified of scams this year.

Read more at Yahoo Finance: Canada Seizes Record $40M in Crypto from TradeOgre Exchange