Turkish authorities block accounts of Vebitcoin exchange
Turkish authorities have their hands full with cryptocurrency exchange cases. In fact, they recently had to block accounts related to a crypto exchange after Verbicoin halted financial activities on the platform.
Authorities crackdown on Vebitcoin crypto exchange
Crypto exchange Vebitcoin announced yesterday that it had stopped financial activities on its platform due to financial strains. As a result, this led the Turkish authorities to block all onshore bank accounts connected to the cryptocurrency exchange.According to Bloomberg, Turkey's Financial Crimes Investigation Board blocked Vebitcoin's accounts and opened a probe on their activities. Furthermore, Vebitcoin's CEO Ilker Bas and three other employees have been detained for investigation following the latest developments.
Mehmet Nadir Yağcı, a prosecutor in the southwestern city of Muğla, said, "Four administrators and personnel of the company were detained on Saturday on allegations of fraud. Due to the recent developments in the crypto money industry, there was a much higher density in our operations than expected. We would like to state with regret that this situation has led us to a very difficult process."
Vebitcoin is currently the fourth largest crypto exchange in Turkey. It handles roughly a volume of $60 million in daily transactions. In fact, the move against Vebitcoin comes barely 24 hours after local news agencies reported that the police detained 62 people connected with the fraud claims filed against cryptocurrency exchange Thodex.
Thodex users have hired a lawyer to file criminal charges against the exchange's founder and CEO after failing to get access to their funds. As well, the CEO Fatih Ozer is alleged to have fled to Albania with $2 billion of investors' funds.
Turkish authorities are in the process of extradicting him back to the country to face legal consequences. However, Ozer claims the allegations are false. He maintains that the attacks were part of a smear campaign against the crypto exchange, and that the users' funds are safe.
April hasn't been kind to cryptocurrency in Turkey
This month hasn't been a great one for cryptocurrency enthusiasts in Turkey. Earlier, the Turkish central bank banned the use of cryptos as a payment option for goods and services. According to the apex bank, cryptocurrencies are deemed too risky to be considered as good payment options in the country.Central Bank chief Sahap Kavcioglu hinted that they are working on creating more regulations in the crypto space. "We are working on regulations in terms of cryptocurrency. There are disturbing money outflows to outside of Turkey via cryptocurrencies," he added.
The central bank ban was followed by the news that Thodex recently locked its users out of the platform. Of course, this made it impossible for them to access their funds. The case was still ongoing when the Vebitcoin saga came into play.
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
