{"id":234764,"date":"2021-04-24T18:56:26","date_gmt":"2021-04-24T15:56:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/four-arrested-after-turkish-exchange-vebitcoin-closes-its-doors\/"},"modified":"2021-04-24T18:56:26","modified_gmt":"2021-04-24T15:56:26","slug":"four-arrested-after-turkish-exchange-vebitcoin-closes-its-doors","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/four-arrested-after-turkish-exchange-vebitcoin-closes-its-doors\/","title":{"rendered":"# Four arrested after Turkish exchange Vebitcoin closes its doors"},"content":{"rendered":"

“# Four arrested after Turkish exchange Vebitcoin closes its doors <\/strong>”
\n<\/p>\n

As a countrywide cryptocurrency ban looms, multiple Turkish exchanges have now come under investigation with four employees of the recently-shuttered Vebitcoin exchange arrested this morning for allegations of fraud.<\/p>\n

Last night, Vebitcoin announced it would be ceasing operations in a short statement posted<\/a> on its website, claiming that unspecified financial strain led to the decision \u2014 possibly caused by an unusually high number of withdrawals leading up to Turkey\u2019s forthcoming cryptocurrency ban. <\/p>\n

\u201cWe have decided to cease our activities in order to fulfill all regulations and claims,\u201d the announcement read in part.<\/p>\n

The exchange was among the largest in Turkey with nearly $60 million in daily volume, with Bitcoin accounting for half of the trading activity. <\/p>\n

This morning, Mu\u011fla chief public prosecutor Mehmet Nadir Ya\u011fc\u0131 announced in a statement to local media<\/a> that four employees have been detained by law enforcement following allegations of fraud. <\/p>\n

“Following the search and seizure operations carried out at the company headquarters and at some addresses, 4 people, who are company directors and employees, were detained. The investigation carried out by the Directorate of Cyber \u200b\u200bCrimes Branch of the Mu\u011fla Police Department is carried out in a multifaceted and meticulous manner.”<\/p><\/blockquote>\n

MASAK, Turkey\u2019s financial crime enforcement wing, is currently investigating.\u00a0<\/p>\n

The arrests follow a similar pattern seen in the aftermath of fellow exchange Thodex\u2019s closure. Thodex announced a halt to all trading amid reports of a police raid and that the founder of the exchange had fled to Albania. Police subsequently issued upwards of 75 arrest warrants and detained 62 in connection to a possible exit scam. <\/p>\n

The arrests and closures come after a surprise \u201cdiktat\u201d from Turkey\u2019s newly-app<\/a>ointed central bank governor effectively banning cryptocurrencies in the country, which will go into effect April 30th. The ban has become a hot-button issue, as opposition leaders have voiced support for crypto. <\/p>\n