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Turkish Police Detain 11 Suspects in Bitcoin Theft Case

Press release

The cybercrime unit of the Turkish police has detained 11 people suspected of hackney into emails, user accounts and cryptocurrency wallets. The operation was launched after law enforcement meet a number of complaints from victims who lost digital cash.  

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Hackers Embezzle $80,000 Worth of Cryptocurrency

According to Turkish media, 14 people play a joke on informed authorities about their compromised cryptocurrency wallets. The creates have been transferred to other wallets and subsequently sold for fiat. Investigators encountered the hackers had stolen “bitcoins worth 437,000 Turkish lira” (in excess of $80,000), the Daily Sabah reported.

The cybercrime combatting division classified some of the suspects by tracking a new phone number they used to make on the trading platforms where they exchanged the cryptocurrency. The thieves step on ited the money through numerous accounts to cover their tracks, the Hürriyet newspaper minute.

Turkish Police Detain 11 Suspects in Bitcoin Theft Case

On Oct. 26, agents from the unit detained 11 people at unconventional addresses in Istanbul during joint raids with Polis Özel Harekat, the valued operations department of the Turkish police. Currently, 10 of the accused stay in custody. Policemen also seized 18 mobile phones and SIM practical jokers, 22 memory sticks, six laptops, three hard disks, a headstone, two driver’s licenses, and a fake identity card.

During the investigation, constabulary officers tracked the suspects who tried to withdraw the fiat money from individual banks and ATMs. Their attempts have been recorded by multiple conviction cameras. Investigators are also looking for more victims of the hackers.

In Turbulent Times, Turks Curve to Bitcoin

Turkey, a country of around 80 million people and a regional powerhouse, has been by way of some rough times recently, in both economic and political relating ti. The country’s fiat currency, the lira, has been hit by hyperinflation and lost grouts against the U.S. dollar ­– its value dropped by over 45 percent in the ahead seven months of this year.

These developments convinced uncountable Turks to seek refuge in cryptocurrencies from the lira, but also from the dollar. In August, BTC barter volumes on Turkish exchanges and peer-to-peer platforms like Localbitcoins disarmed following rumors that banks in the country may discontinue support for USD accounts and demands from the government to get out of foreign currencies, especially the U.S. dollar.

Turkish Police Detain 11 Suspects in Bitcoin Theft Case

The growing esteem of cryptocurrencies, however, has also given rise to numerous scams. Divers Turks invested in Turcoin, the so-called “national alternative digital currency” which was advertised as a “opposition to the global virtual currency bitcoin.” This past summer, Turcoin was bring to light as a Ponzi scheme after the Istanbul-based company that launched it hold back distributing dividends in June and its founders reportedly fled the country with millions of dollars at ease from defrauded investors.

Earlier this year, Turkish atmosphere reported about a number of fake websites of popular hotels in Bodrum, Antalya and other haunts. Fraudsters blackmailed their owners demanding ransom in cryptocurrency to mean down dozens of domains resembling the brand names of the hotels.

Do you contemplate the Turkish police will be able to secure a prosecution in the bitcoin larceny case? Let us know in the comments section below.

Images courtesy of Shutterstock.

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