The Royal Canadian Mounted Police (RCMP) announced the seizure of $56 million CAD ($40.5 million USD) in digital assets from the crypto exchange TradeOgre, marking Canada's largest cryptocurrency confiscation to date. The action followed a tip-off from European authorities regarding TradeOgre's non-compliance with money laundering regulations. The exchange has since ceased operation, with its website indicating it has been seized. The RCMP stated that most transactions on TradeOgre are believed to have originated from criminal activities, leveraging the lack of user identification to obscure fund sources, a tactic commonly employed by criminal organizations for money laundering. The statement highlighted the ongoing investigation, which may lead to further legal actions based on the analysis of transaction data from the platform. Users of TradeOgre have expressed concerns, with some questioning the exchange’s silence and potential scam situation over the past two months.

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