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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, consumer accounts and cryptocurrency wallets. The operation was launched after legislation enforcement acquired various complaints from victims who misplaced digital money.  

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Hackers Steal $80,000 Value of Cryptocurrency

In line with 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 Every day Sabah reported.

The cybercrime combatting division recognized a few of the suspects by monitoring a brand new cellphone 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 the moment, 10 of the accused stay in custody. Policemen additionally seized 18 cell phones and SIM playing cards, 22 reminiscence sticks, six laptops, three onerous disks, a pill, two driver’s licenses, and a faux identification card.

Through the investigation, law enforcement officials tracked the suspects who tried to withdraw the fiat cash from numerous 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 lately, in each financial and political phrases. The nation’s fiat foreign money, the lira, has been hit by hyperinflation and misplaced floor towards 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 in addition 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 reputation of cryptocurrencies, nevertheless, has additionally given rise to quite a few scams. Many Turks invested in Turcoin, the so-called “nationwide different digital foreign money” which was marketed as a “rival to the worldwide digital foreign money bitcoin.” This previous summer season, 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 thousands and thousands of collected from defrauded traders.

Earlier this yr, Turkish media reported about various faux web sites of in style accommodations 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 accommodations.

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


Photographs courtesy of Shutterstock.


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