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Turkey's Cryptocurrency Pain Grows With Second Exchange Collapse
Turkey’s cryptocurrency investors were dealt another blow after a second big exchange collapsed in as many days, prompting the country’s financial crimes watchdog to open a probe. Cryptocurrency exchange Vebitcoin said it would halt operations, citing deteriorating financial conditions. Turkey’s Financial Crimes Investigation Board said it has blocked the company’s accounts and opened an investigation against Vebitcoin and its executives. Vebitcoin is Turkey’s fourth biggest exchange with close to $60 million in daily volumes, according to CoinGecko.com which tracks data on price, volume and market value on ... (full story)
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Turkey blocks accounts of Vebitcoin exchange platform, launches probe
Turkish authorities blocked all onshore bank accounts of cryptocurrency exchange platform Vebitcoin in the country, and launched an investigation into the platform, the state-run Anadolu news agency said late on Friday. The action came after Vebitcoin announced that it stopped all of its activities citing financial strains. It became the second Turkish platform in a week to face troubles, after authorities detained dozens of people with suspected ties to Thodex platform. Vebitcoin, a digital asset trading platform based in Turkey, announced on Friday that it had stopped all activities “in order to fulfill all ... (full story)
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