The Royal Canadian Mounted Police (RCMP) have executed the country’s largest cryptocurrency seizure to date, recovering more than $56 million CAD in crypto from the exchange TradeOgre.

The move not only marks a record seizure but also the first time Canadian police authorities have dismantled a cryptocurrency trading platform, the RCMP said in a press release.

According to the authorities’ Eastern Region division, the seizure followed a year-long probe by the Money Laundering Investigative Team (MLIT). The case began in June 2024 after a tip from Europol came in, which flagged the platform’s alleged non-compliance with Canadian law.

Investigators determined that TradeOgre had failed to register with the Financial Transactions and…