Although there is no such purpose in the origin of crypto money projects, some coins continue to be used in illegal situations. Today, the presence of Bitcoin and altcoins drew attention in the illegal betting investigation of the Ankara Chief Public Prosecutor’s Office in 8 provinces. In the operation, $ 40 million in crypto money was seized. Here are the details…
Attorney General’s Office confiscates $40 million worth of cryptocurrency
Ankara Chief Public Prosecutor’s Office carried out an investigation into illegal betting in 8 provinces. The Smuggling and Organized Crime Investigation Bureau conducted this investigation, which included crimes such as founding, directing, being a member of an organization with the aim of committing a crime, and violating the Law No. 7258 within the framework of the organization’s actions. In this context, they detained 46 people. In addition, approximately $ 40 million in crypto money was seized in this operation. According to the MASAK report, the criminals transferred the money they obtained from illegal betting with various bank accounts.
It is stated that the coins transferred to crypto money exchanges consist of 666 Bitcoin (BTC), 14 million 500 thousand USDT. These coins were confiscated by the decision of the Criminal Court of Peace. cryptocoin.com As we have also reported, USDT is a stablecoin pegged to the US dollar. So 1 USDT is equivalent to 1 dollar.
Operations were held in eight provinces
The money collected in bank accounts was transferred to cryptocurrency exchanges and 118,148 transactions were carried out. It was reported that a total of 2.5 billion liras were transferred to the accounts of those in the group of 11 people, including Halil Falyalı and his wife. On October 20, 46 people were detained in a simultaneous operation in Batman, Bingöl, Kayseri, Kırıkkale, Muş, Van and Yozgat.
Cryptocurrencies and illegal use
We witness cases of abuse of cryptocurrencies in our country, albeit from time to time. Meanwhile, according to blockchain research firm CipherTrace, illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined relative to overall crypto activity. The crypto industry has a reputation as a haven for illegal activity in some places. However, CipherTrace estimates that in 2020, illegal activity is between 0.62-0.65% of total cryptocurrency activity.
In general, in our country and other countries, penalties for Anti-Money Laundering (AML) in the banking sector have increased significantly. MASAK and the Capital Markets Board (SPK) have developed new regulations for crypto platforms. Time will tell what will happen in the market in the coming period. However, the data shows that illegal activity has decreased in the time since the emergence of Bitcoin.
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