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Four arrested after Turkish exchange Vebitcoin closes its doors

Published 04/24/2021, 11:56 AM
Updated 04/25/2021, 02:20 PM
Four arrested after Turkish exchange Vebitcoin closes its doors

As a countrywide cryptocurrency ban looms, multiple Turkish exchanges have now come under investigation with four employees of the recently-shuttered Vebitcoin exchange arrested this morning for allegations of fraud.

Last night, Vebitcoin announced it would be ceasing operations in a short statement posted on its website, claiming that unspecified financial strain led to the decision — possibly caused by an unusually high number of withdrawals leading up to Turkey’s forthcoming cryptocurrency ban.

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