Turkish Police Arrest 24 Suspects For $2.3 Million Crypto Crime

Wilfred Michael 

Wilfred Michael

Reporter

14 February 2019,
10:43
Turkish Police Arrest 24 Suspects For $2.3 Million Crypto Crime

The recent wave crime in the crypto space has made its way down to Turkey where local media reports that the Police arrested 24 suspects allegedly involved in the hack of 3 million Turkish lira ($2.47 million) from an unnamed crypto firm.

The crypto firm reportedly contacted the Police shortly after a hack on its platform while further investigations by a special unit revealed that the hackers moved the stolen fund to registered user accounts on other cryptocurrency exchanges.

Since the stolen funds were in Bitcoin, Ether, and XRP, authorities were able to trace them to 24 different suspects who were communicating via famous online multiplayer battle royale game PlayerUnknown's Battlegrounds (PUBG).

The police then sanctioned an arrest of the alleged hackers who lived across the “provinces of Istanbul, Ankara, Izmir, Afyonkarahisar, Bursa, Edirne, Bolu, and Antalya” the report states.

Further Police Findings

  • 54,000 lira (app. $10200) was recovered in cash from the suspects while 1.3 million lire (app. $240,000) worth of cryptocurrencies was found in their online wallets. These funds have since been confiscated by the police and return to the unnamed crypto firm.

  • On the part of the suspects, two were released at the police station following the completion of legal proceedings while the remaining 22 went on to face the Istanbul Courthouse.

Subsequently, six of the suspects were arrested by the court for the crime while the remaining 16 were discharged on conditions of judicial control.

The latest report from Turkey marks the second time in recent weeks that authorities have successfully caught up with the masterminds behind a crypto theft.

Last month the European Police authorities arrested a U.K resident who stole $11 worth of IOTA tokens in early 2018. We reported in a follow up that the funds were recovered and are now under the custody of the European authorities.

 

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