TL;DR: On July 23, 2025 the RCMP announced it had recovered about 460,000 USDT, valued at roughly C$640,000, from a sophisticated investment fraud targeting an Ontario resident. The funds were seized on July 3. The RCMP credited the victim's prompt reporting and cooperation from Tether International.
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What the RCMP announced
The Royal Canadian Mounted Police said it recovered about 460,000 USD Tether (USDT), valued at roughly C$640,000, after a sophisticated investment fraud against an Ontario resident. The seizure took place on July 3, 2025, and the announcement followed on July 23.
Why it worked
An RCMP investigator said "timing is everything" in crypto theft cases: the sooner investigators follow the transactions, the higher the chance of interdiction. The RCMP credited the victim's prompt reporting and the cooperation of Tether International. It also noted that these scams typically use spoofed websites and fake trading platforms, and ask for extra fees before victims can attempt a withdrawal.
A new unit
The RCMP said it has set up a dedicated coordination centre on virtual assets within Federal Policing Criminal Operations to deal with evolving crypto crime.
If you lost crypto in a scam
Report it right away to police and the Canadian Anti-Fraud Centre. Do not pay anyone to 'recover' your funds: read realistic expectations for crypto scam recovery and investment and trading app scam recovery. For the Canadian reporting process see how to report fraud to the Canadian Anti-Fraud Centre, and for another Canadian recovery read the Toronto romance scam recovery.
Frequently Asked Questions
How much did the RCMP recover?
About 460,000 USDT, valued at roughly C$640,000 at the time of the announcement on July 23, 2025.
When were the funds seized?
On July 3, 2025.
What helped the recovery?
The RCMP credited the victim's prompt reporting and cooperation from Tether International.
Where should Canadian victims report crypto fraud?
Report to local police and the Canadian Anti-Fraud Centre.
Sources
- Royal Canadian Mounted Police: RCMP recover US$460,000 Tether in cryptocurrency fraud (Jul 23, 2025)
- Canadian Anti-Fraud Centre