A X post by Arkham Intelligence notes that the Canadian Police have seized cryptocurrencies worth $40 million. Further noting that the Royal Canadian Mounted Police has seized digital assets worth millions from TradeOgre, a centralized exchange.
Arkham said that this seizure of 56 million Canadian dollars is one of the largest crypto assets seized in the years-long history of the nation.
The detailed article by Arkham Intelligence notes that the X account of TradeOgre was reported inactive since May this year, and its website was down from 30th July.
It also quoted a statement of Reddit users who said, Guys, what the hell is happening at TradeOrge? They’ve been radio silent and offline for like 24 hours now. I had around 25k USDT in order to deposit on the platform. Is it an exit scam? What’s the latest news?”
Canada remained committed to fighting crypto crimes
The news release by the Royal Canadian Mounted Police dated September 18, 2025, notes that the money laundering investigation team (MLTI) opened the file of TradeOgre in June of the previous year after getting a clue from Europol.
At the time of the investigation, the officials found that TradeOgre contravened the laws and regulations of Canada, primarily failing to register with the Financial Transaction and Reports Analysis Centre of Canada.
Investigators have reasons to believe that the major portion of funds transacted on the platform came from criminal and illicit sources. The main attraction of this type of platform is that it doesn’t require users to identify themselves to make an account, which obscures the source of the funds.
At the time of writing, the website of TradeOrge has a notice displayed noting that the site and its cryptoassets have been seized by the RCMP.
How big is the crypto market in Canada?
In Canada, a major part of the population is engaged in crypto trading and holding. According to the available data, the national market is expected to reach $913.4 million in terms of revenue in the current year.
Around 4 million to 4.2 million of the overall population of Canada holds crypto; the adoption rate is primarily led by the younger generation, followed by those above 65 years of age. Cryptos aren’t considered legal tender in the nation, but there is no ban or restriction on buying and selling digital assets.
By the next few years, the revenue of the crypto market of Canada is expected to surpass the milestone of $1 billion and could reach $2 billion by the end of 2026.
