by Authorities in Turkey have confiscated cryptocurrencies worth $40 million. They have also arrested about 46 suspects as part of an investigation into illegal betting. Turkish Interior Minister, Suleyman Soylu, said it is in connection to the murder of one Halil Falyalı.
Official Details
The Office of the Chief Public Prosecutor issued the order to detain the 46 people. It also ordered the confiscation of the crypto assets.
The mass arrest and seizure followed a long-time investigation of illegal betting operations. These operations were carried out in eight provinces: Ankara, Bingol, Batman, and Kirikkale. The other provinces are Kayseri, Yozgat, Van, and Mus.
The arrested suspects were alleged to have aided the transfer of fraudulently obtained funds. The said funds were paid into the crypto addresses of an organized criminal organization. The organized criminal organization, in turn, had Halil Falyalı as a member along with his wife.
Halil Falyalı, the casino and betting giant, was shot dead on the 8th of February. The death occurred in the midst of an armed attack close to his Kyrenia residence. Kyrenia is situated on the north coast of Cyprus.
Halil Falyalı, according to the report, was the alleged leader of the illegal betting enterprise. The publication gave more details on the latest development. It added that huge amounts were transferred into crypto accounts associated with the group.
Cross-Border Organized Crime
About 2.5 billion Turkish Lira, approximately $134.5 million went into the crypto accounts of 11 people. This group included Halil Falyalı and his wife.
The report also uncovered another set of about $40 million worth of crypto assets. They were said to have been transferred to various exchanges within the country and abroad. All assets have been seized, the publication stated.
The publication also noted that the operation was spear-headed from Turkish Cyprus. It is also connected to the murder of Halil Falyalı, according to the Turkish Interior Minister, Suleyman Soylu.
The Minister further clarified the about 2.5 billion Turkish Lira seized. He equally confirmed the additional $40 million confiscation. He said, however, that this just marks the beginning.
Many Turkish media outlets reported that Bitcoin, as well as Tether, were confiscated in the operation. Some of the arguments against crypto adoption are that it is the go-to alternative for criminals. The nature of the assets might aid money laundering.
If the Turkish case is probed far, it might further dent the carefully crafted crypto image.
