Turkish authorities blocked all onshore bank accounts of cryptocurrency exchange platform in the country

Turkish financial crime watchdog has blocked all bank accounts of cryptocurrency exchange Vebitcoin in the country. This move came after Vebitcoin announced that it had discontinued all its activities for financial reasons.

Turkish authorities blocked all onshore bank accounts of cryptocurrency exchange platform in the country

The Financial Crimes Investigation Board (MASAK) has also initiated an investigation into Vebitcoin and regulators. Accordingly, an investigation into another cryptocurrency platform, Thodex, has been launched.

Turkey issued an international bounty on Friday against the founder of a fledged cryptocurrency exchange with reported investors’ assets of more than $ 2 billion. Police also arrested more than 60 people in the raids for alleged connections with Thodex, the company led by fugitive businessman Faruk Fatih Ozer.

The Anadolu news agency reported that he was being hunted for fraud using information systems, banks, or credit institutions as a tool and forming a criminal organization. Turkish security officials on Thursday released a photo of Ozer at Istanubul airport en route to an undisclosed location.

Security sources later confirmed that Ozer, believed to be 27 years old, had arrived in Albania. The Justice Department has begun legal proceedings to seek his arrest and extradition from the Albanian capital Tirana. Interior Minister Suleyman Soylu spoke by phone with his Albanian counterpart about the incident.

The Thodex exchange halted trading after posting a mysterious message on Wednesday saying it needed five days to settle an unknown outside investment.

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