In a recent social media post, Interior Minister Ali Yerlikaya revealed an ongoing operation targeted at cryptocurrency fraudsters. Yerlikaya stated that authorities had seized cryptocurrency wallets worth a staggering 30 billion lira from individuals who had orchestrated a pyramid scheme, thereby defrauding numerous unsuspecting citizens.
The operation, aptly named “SİBERAĞ-15”, resulted in the apprehension of 21 people believed to be involved in the fraudulent scheme. Of the 21 caught in the operation, 18 were arrested while the remaining three were released on judicial control orders. This operation is evident of the government’s intense scrutiny of the cryptocurrency sector, seen as a hotbed for illegal activity.
During the operation, a total of 752 bank and cryptocurrency accounts were seized, further highlighting the size and reach of this illicit operation. The accounts in question were found to have a transaction volume (money inflow/outflow) of 30 billion 478 million 473 thousand TL through the pyramid scheme between 2017 and 2024.
The operation conducted by the Gendarmerie spanned 9 provinces, focusing on crimes of Aggravated Fraud and Laundering of Assets Originating from Crime. Notably, the suspects had been broadcasting advertisements on various social media platforms, promising high returns on investments and making unjust profits.
The promises of high earnings acted as bait, drawing in many citizens who were subsequently defrauded through the pyramid scheme. Prosecutors have begun investigations against the suspects for their role in this elaborate scheme that has resulted in significant financial loss to the victims.
Minister Yerlikaya shared a tweet, “Hesaplarında 30 Milyar 478 Milyon 473 Bin TL işlem hacmi bulunan 21 şüpheli yakalandı ve 752 adet banka/kripto para hesabına el konuldu.” The tweet includes an image captioned, “9 ilde “Nitelikli Dolandırıcılık ve Suçtan Kaynaklanan Malvarlığı Değerlerinin Aklanması” suçlarına yönelik Jandarma tarafından düzenlenen…”
This operation serves as a stern reminder of the potential risks involved in cryptocurrency investments. While the allure of high returns can be enticing, the lack of regulation and the anonymous nature of transactions in the cryptocurrency market can often provide a conducive environment for fraudulent activities.
This case reinforces the need for potential investors to exercise caution and conduct thorough research before committing to any investment opportunities. As always, it is critical to remember that investment decisions should be based on careful consideration and sound advice, rather than promises of quick riches.
*This is not investment advice.
