Tag Archives: turkey

Leading cryptocurrency exchanges, such as Bybit, BitMEX, and Bitfinex, vowed to support victims of Turkey’s disastrous earthquake with aid packages. Binance is also looking to help the affected people. A massive earthquake with a magnitude of 7.8 struck southern Turkey earlier today (February 6) and killed over 1,500 people. Hundreds of buildings collapsed, meaning the number of victims could rise significantly once emergency services scour the ruins. Numerous governments,...

The Financial Crimes Investigation Board of Turkey (MASAK) seeks to seize “suspicious” assets linked to the battered cryptocurrency exchange FTX.  The authorities also plan to open an investigation against the trading venue’s former CEO – Sam Bankman-Fried (SBF). Going After SBF The Turkish agency sought a greenglight from the Istanbul Chief Public Prosecutor’s Office to launch a thorough inspection on FTX and its dubious activities over the years. The entity vowed to...

The Albanian authorities will reportedly extradite the notorious Faruk Fatih Ozer (CEO of the distressed crypto exchange Thodex) to Türkiye. He escaped his homeland last year after allegedly defrauding the platform customers for nearly $2 billion. Justice to Be Served According to a recent coverage by BBC, the Albanian and Turkish authorities negotiated the deportation of Ozer, who has 15 days to appeal the decision. The 27-year-old and his troubled crypto platform Thodex...

The two fastest growing regions in the category of crypto use and adoption include North Africa and the Middle East. Both areas – between July 2021 and June 2022 – accounted for about nine percent of the world’s crypto transactions according to a report by blockchain analysis firm Chainalysis. Chainalysis Shows the Mena Region as the Top Crypto Performer Both the Middle East and North Africa make up what’s known as the Mena region, and during the allotted period, that...

The Turkish authorities reportedly detected an illicit betting organization that used cryptocurrencies to launder crime funds. Following the investigation, law enforcement agents arrested 46 individuals involved in the scheme and confiscated $40 million worth of digital assets. ‘This Is Just the Beginning’ According to a local coverage, the Turkish police have detained the suspects across various regions in the country, including the capital Ankara, Kayseri, Van, Yozgat, and...

Faruk Fatih Ozer – the alleged founder of Turkish cryptocurrency exchange Thodex – has been arrested in the European nation of Albania and is now on the verge of being sent back to Turkey where he will face trial for reportedly making off with all the digital assets invested by his company’s clients. The Founder of Thodex Is Heading Back to Turkey Crypto crime involving exchanges has become a big deal in recent years given how unregulated the digital currency space truly...

The Albanian authorities arrested Faruk Fatih Ozer – the CEO of the Turkish cryptocurrency exchange Thodex – in the city of Elbasan. Last year, the platform ceased trading and withdrawals, while the 28-year-old executive was rumored to have left Turkey with $2 billion in users’ funds. Despite not managing to detect Ozer’s whereabouts, Turkish law enforcement agents jailed six other individuals connected to the fraud. Two of those were the brother and the sister of the CEO....

The Singapore-based cryptocurrency platform became an official sponsor of the Turkish soccer club Galatasaray. The latter will feature the company as its crypto partner on multiple platforms and media assets. Bitget Attracted Another Soccer Team The most successful soccer club in Turkey – Galatasaray – inked a sponsorship agreement with Bitget for the remainder of the 2021-22 season. The platform will also serve as an official cryptocurrency partner of Galatasaray’s...

Turkey – in the middle of its currency crisis – appears to be taking advice from and meeting with the most unlikely contender: El Salvador. Turkish president Recep Tayyip Erdogan recently met with Nayib Bukele as the country experiences one of the worst national currency crises in its long history. Could Turkey be the next big nation to declare bitcoin legal tender, and what will it learn from utilizing crypto? Will Turkey Be the Next Country to Declare BTC Money? The...

Santa Claus could be granting the wishes of Turkish cryptocurrency enthusiasts as the country embarks on a revolutionary change in its cryptocurrency policy. Turkey’s President Recep Tayyip Erdoğan said today in a press conference that he expected the nation to make a leap forward with a new economic model, and as a first step, he would touch the crypto industry by creating a law to promote their legal use in the country. Turkey President Talks of a New Economic Model The...