Turkish prosecutors have seized $40 million worth of cryptocurrencies and arrested 35 people in eight cities on October 20 for operating an illegal cryptocurrency gambling platform. report By local news outlets.
Turkish law enforcement has reportedly pursued the organization for a long time. The suspect was arrested for violating laws on the organization of gambling and games of chance in football and other sports competitions. Arrest warrants have been issued for a total of 46 suspects. The remaining 11 have yet to be found.
Among the 35 arrested are Khalil Faryal, who owns several gambling dens in Northern Cyprus, his wife and the head of the gambling operations. Although there is no evidence to prove it, prosecutors speculate that Faryal and his wife headed the organization.
Remittance of illicit funds
Members of the organization used their own bank accounts and the bank accounts of the challengers to process the transfers of funds earned from illegal bets.
Members, after collecting funds obtained through illegal cryptocurrency gambling platforms, funded several determined cryptocurrency wallets owned by members of the organization, including Falalı, his wife, and his chief operating officer. was sent and distributed. The funds are resent to the owner’s crypto wallet at the exchange after being cut.
At the time of operation, the organization had approximately 666 Bitcoins (BTC) and over 14 million Tethers (USDT). The funds represent nearly $40 million confiscated by prosecutors.
earn 2.5 billion lira
Local news outlets did not disclose how the organization operated. However, law enforcement detected that the organization issued 118,148 transfers from his account to a crypto exchange wallet.
From these remittances, the organization earned 2.5 billion Turkish lira. This equates him to over $134 million. Prosecutors also found that the money earned was distributed among 11 members of the organization, including Faryal and his wife.
Turkish minister calls for cooperation
After the operation was completed, Turkish Interior Minister Suleyman Soylu shared the details with the public. Soylu said Turkey is working diligently to prevent such criminal activity and called for international cooperation to create a fully effective solution.
he Said:
“Turkey is carefully cooperating with all institutions to prevent criminal and illegal betting proceeds, as well as cryptocurrency transfers of these proceeds. Europe and all countries follow this common set of rules. We have to manage the process.”
