Turkish Police Detain 11 Suspects in Bitcoin Theft Case

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The cybercrime unit of the Turkish police has detained 11 folks suspected of hacking into emails, person accounts and cryptocurrency wallets. The operation was launched after legislation enforcement obtained a lot of complaints from victims who misplaced digital money.  

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Hackers Steal $80,000 Price of Cryptocurrency

In response to Turkish media, 14 folks have knowledgeable authorities about their compromised cryptocurrency wallets. The cash have been transferred to different wallets and subsequently bought for fiat. Investigators found the hackers had stolen “bitcoins value 437,000 Turkish lira” (over $80,000), the Day by day Sabah reported.

The cybercrime combatting division recognized a number of the suspects by monitoring a brand new telephone quantity they used to register on the buying and selling platforms the place they exchanged the cryptocurrency. The thieves moved the cash via quite a few accounts to cowl their tracks, the Hürriyet newspaper detailed.

Turkish Police Detain 11 Suspects in Bitcoin Theft Case

On Oct. 26, brokers from the unit detained 11 folks at completely different addresses in Istanbul throughout joint raids with Polis Özel Harekat, the particular operations division of the Turkish police. At present, 10 of the accused stay in custody. Policemen additionally seized 18 cell phones and SIM playing cards, 22 reminiscence sticks, six laptops, three arduous disks, a pill, two driver’s licenses, and a faux id card.

Through the investigation, cops tracked the suspects who tried to withdraw the fiat cash from varied banks and ATMs. Their makes an attempt have been recorded by a number of safety cameras. Investigators are additionally in search of extra victims of the hackers.

In Turbulent Occasions, Turks Flip to Bitcoin

Turkey, a rustic of round 80 million folks and a regional powerhouse, has been via some tough occasions not too long ago, in each financial and political phrases. The nation’s fiat forex, the lira, has been hit by hyperinflation and misplaced floor in opposition to the U.S. greenback ­– its worth dropped by over 45 p.c in the primary seven months of this yr.

These developments satisfied many Turks to hunt refuge in cryptocurrencies from the lira, but additionally from the greenback. In August, BTC buying and selling volumes on Turkish exchanges and peer-to-peer platforms like Localbitcoins spiked following rumors that banks in the nation could discontinue assist for USD accounts and calls from the federal government to get out of foreign currency, particularly the U.S. greenback.

Turkish Police Detain 11 Suspects in Bitcoin Theft Case

The rising recognition of cryptocurrencies, nevertheless, has additionally given rise to quite a few scams. Many Turks invested in Turcoin, the so-called “nationwide various digital forex” which was marketed as a “rival to the worldwide digital forex bitcoin.” This previous summer time, Turcoin was uncovered as a Ponzi scheme after the Istanbul-based firm that launched it stopped distributing dividends in June and its founders reportedly fled the nation with hundreds of thousands of collected from defrauded traders.

Earlier this yr, Turkish media reported about a lot of faux web sites of widespread motels in Bodrum, Antalya and different resorts. Fraudsters blackmailed their homeowners demanding ransom in cryptocurrency to shut down dozens of domains resembling the model names of the motels.

Do you assume the Turkish police will have the ability to safe a prosecution in the bitcoin theft case? Tell us in the feedback part beneath.


Pictures courtesy of Shutterstock.


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