Canada Freezes BTC and Crypto Transactions for Freedom Convoy Protestors

Canada Freezes BTC and Crypto Transactions for Freedom Convoy Protestors
  • Canada stops all crypto transactions of Freedom Convoy protestors.
  • Crypto funding of $10 million, fundraising page down. 
  • Residents of Ottawa claim compensation.

The Freedom Convoy started on January 22, 2022 and still is going on, with further no proper response from the Canadian government. The Freedom Convoy is actually a protest by the truck drivers who cross the borders of Canada and USA, for logistics trades of all kinds. The protest started out, as both the governments of both nations stated mandatory Covid-19 vaccinations for all cross border truck drivers.

Facing such a hurdle of continuous PCR tests and vaccinations, the truck drivers took onto protest on January 22. In spite of this, the protestors and truck drivers blocked almost all the routes for cross-border tardes. This includes, ways to airports, roads, bridges and much more. 

As a result, the entire economy of Canada is quite shaken, including that of the USA too. Accordingly, as all cross border trade routes are cut-off, Canada directly faces an everyday loss of  about more than $500,000.

The Freezing of BTC and Crypto

As the protest bursted out widely, the protest grew further and further, with more and more protestors adding on with each day. Simultaneously, the need for funding took on. In spite of this, the protestors started out a funding campaign for the protest, upon the GoFundMe campaign page. 

 Soon, funds started to flow in, and so far a whopping $10 million was collected in various cryptos, like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and much more. All these funds were transacted by more than 120 different wallet addresses Therefore, in order to stop the funding for the Freedom Protest, the Canadian government froze all the crypto accounts of the protestors. These include major crypto trading platforms like Binance, Satoshi Portal, BitBuy, Bull Bitcoin and much more.

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.