Canada Chokes Crypto Supply, Freezes $20 Million In Bitcoin Donated To Truckers

As Canada starts to clamp down on the crypto supply flowing into the Freedom Convoy’s coffers, protest leaders and truckers now face a harsh reality on the ground.

Faced with the turmoil caused by massive protests, roadblocks, and other acts of resistance in Canada’s capital city, an outraged group of Ottawa locals has filed a class action lawsuit against the organizers of the protest movement.

The convoy began when a group of truckers drove from the west coast of Canada to Ottawa to protest mandatory COVID-19 vaccinations for truck drivers.

Truckers shut down bridges and border crossings, costing the Canadian government more than $500,000 in daily trade with the United States.

Ottawa residents claim the protests have affected their livelihood and way of life, thus the solution is to seek the court’s help for some sort of “remuneration” for the damage it caused them.

Related Article | Canada Emergencies Act Declares War Against Crypto And Freedom Convoy Protesters

According to estimates, the demonstrators were able to pump up their crypto supply to roughly $10 million on a GoFundMe campaign before the fundraising platform removed the page.

Since then, fund-raising has become more innovative, with protestors increasingly using bitcoins to further their cause.

BTC total market cap at $764.19 billion in the daily chart | Source: TradingView.com

Ottawans Vs. Canadian Truckers

Now, Ottawans are suing for up to $20 million of the total amount raised in donations globally to be divided to city residents.

The Canadian government is currently engaged in a continuous campaign to seize the funds of protestors.

Redistribution would take place only if the lawsuit filed against the convoy organizers is successful.

Judge Calum MacLeod of the Ontario Superior Court of Justice signed a Mareva Injunction on Friday, freezing crypto assets at over 120 different addresses associated with Bitcoin, Cardano, Ethereum, Litecoin, and Monero.

Binance Smartchain, BitBuy, Bull Bitcoin, Bylls, TallyCoin, Shakepay, Satoshi Portal, Nunchuk, and PancakeSwap are among the digital asset platforms and exchanges comprising the list.

Similarly, Deputy Prime Minister Chrystia Freeland told journalists on Friday that the Royal Canadian Mounted Police had also ordered crypto exchanges to freeze specific addresses.

Crypto Supply Frozen

MacLeod directed that banks, cryptocurrency exchanges, money remittance businesses, fundraising platforms or websites, and holders of any cryptocurrency wallets immediately halt all transactions in connection with the convoy’s accounts and e-wallets.

In Canada and Britain, an injunction is a court order that freezes a defendant’s assets to prevent them from being hidden, spent, or transferred prior to a ruling being rendered.

Additionally, the Mareva order provides that defendants who violate it may be placed in contempt of court and suffer jail time, fines, or asset forfeiture.

Keith Wilson, a legal counsel for the convoy leaders, confirmed through email Friday that they had not been served with the order or accompanying court paper.

Related Reading | Could Canada Turn Anti Bitcoin? Behind The Layers Of Trudeau

The Battle Continues

Despite the stronger government response, demonstrators vow to keep their battle until the Canadian government eases all pandemic restrictions.

Meanwhile, the movement has escalated into a massive anti-government and anti-Trudeau uprising, with many protestors advocating for a continuous campaign of opposition until the prime minister resigns.

Canadian Prime Minister Justin Trudeau made history Tuesday by invoking the Emergencies Act for the first time, granting law enforcement agencies additional power in an attempt to put an end to the upheaval.

Featured image from Crypto Upline, chart from TradingView.com

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