62 Arrests Made by the Turkish Police over a Crypto-Exchange Fraud

As the cryptocurrency industry continues to make its way to different countries around the world, more and more fraudsters are being caught running their scams. In recent weeks, the country that has managed to gain a lot of attention from the crypto-community is Turkey.

While the country fights with the high inflation rate and the devaluation of the Turkish lira, the people of Turkey are now turning to cryptocurrencies for support, and to fight off inflation.

A few weeks back, it was rumored that Turkey was planning to launch its own CBDC. These rumors were then confirmed by the central bank of Turkey, confirming they are currently looking into the possibilities of adopting CBDC.

Although the people in Turkey are interested to invest in cryptocurrencies, the Turkish government is planning to ban cryptocurrencies for good.

One of the major factors behind the Turkish government’s decision is the ongoing scams and fraudulent activities taking place in the country that are directly linked with cryptocurrencies.

At present, several cryptocurrency exchanges are providing their services in Turkey and as the reports start to emerge around banning cryptocurrencies in the country, these exchanges are now concerned.

They are not sure as to what the fate of the cryptocurrencies would be in the country. Therefore, many local exchanges in the country are now going rogue and have started scamming innocent citizens of Turkey.

According to the latest reports, the Turkish police have taken action at one of the top local cryptocurrency exchanges, Thodex. The local media sources have revealed that the Turkish police authorities have conducted several arrests and have brought in around 62 persons for investigation purposes.

The arrests have been conducted by the Turkish police in response to several complaints launched by the Turkish citizens. In all of the complaints, the claimants have accused Thodex to have lured them into making investments and then scamming them of their money.

The authorities have confirmed that in the past couple of weeks, the number of complaints against the platform had crossed 1,000 marks. Therefore, the authorities had to do something quick about the exchange and find the underlying cause of the matter.

The authorities have revealed that they still have warrants against 16 more people who the claimants have alleged were involved in scams on behalf of Thodex.

Initially, they started looking for scammers in Istanbul but now the search operation has expanded to eight provinces.

The authorities are doing all there is in their power to find the CEO of Thodex exchange, Faruk Fatih Ozer. According to the report, all bank accounts linked with the exchange as well as belonging to Ozer have been ceased until the investigation is over.

Leave a Reply

Your email address will not be published. Required fields are marked *