Turkey blocks cryptocurrency! After the big money circle ran away with 2 billion US dollars: another trading platform closed down
As the Turkish government began to block cryptocurrencies, the country's cryptocurrency exchanges are also facing difficult choices.

According to reports, after the Turkish cryptocurrency exchange Thodex ceased operations, another cryptocurrency exchange Vebitcoin also issued a statement on its official website that it will cease operations.

It is reported that in recent days, the Central Bank of Turkey stated that due to security risks and lack of supervision, since April 30, it will prohibit the direct or indirect use of cryptocurrency for payment transactions. In addition, electronic money institutions are also prohibited from acting as intermediaries for transfers to cryptocurrency platforms.

This also means that cryptocurrencies such as Bitcoin will not be used for trading in the country. Affected by this, the cryptocurrency exchange Thodex has been unable to log in and trade on the 20th.

The founder of the exchange, Faruk Fatih Ozer, has also flown to Albania and took away about 2 billion US dollars of funds from many investors. The Turkish government has issued an international arrest warrant for him, and 62 related persons have been arrested.

Now, Vebitcoin, another cryptocurrency exchange, also issued a statement on its official website. Due to the current fierce competition in the cryptocurrency industry, the platform has fallen into a difficult dilemma. According to relevant regulations and requirements, it has decided to stop operations.

However, it is clear that investors are unacceptable to this news, because Vebitcoin had a daily trading volume of nearly $60 million on the day before it ceased operations. The police have blocked Vebitcoin's domestic bank accounts and detained 4 people.

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