Quebec RCMP say a recent $56 million cryptocurrency seizure is the largest in Canadian history, and the first time law enforcement in the country have shut down a cryptocurrency exchange platform.
Police allege that the platform, TradeOgre, was being used by criminal organizations to launder money.
The RCMP’s money laundering investigative team started looking into the platform in June 2024, after it received a tip from Europol.
“The investigation found that the platform contravened Canadian laws and regulations,” RCMP said in a Sept. 18 news release.
They said the platform had failed to register as a “money services business” with the Financial Transactions and Reports Analysis Centre of Canada. RCMP also allege the organization did not identify its clients….