21 provinces in Ankara were targeted in the operation named “CYBERGÖZ-42” against individuals involved in qualified fraud through the cryptocurrency buying/selling platform “Smart Trade Coin” with the promise of high profits and zero risk. A total of 127 suspects were apprehended for having accumulated 1 billion dollars in illicit gains.

The operation, overseen by the General Directorate of Security's Department of Combating Cyber Crimes and conducted by the Ankara Provincial Police Department's Anti-Cyber Crimes Branch Directorate, expanded beyond Ankara to cities including Antalya, Istanbul, Izmir, Eskişehir, Uşak, Aydın, Muğla, Kütahya, Çorum, Balıkesir, Denizli, Adana, Bursa, Malatya, Tekirdağ, Isparta, Karabük, Konya, Şırnak, and Samsun to address crimes such as qualified fraud, organizing criminal activities, and money laundering. The suspects duped citizens by luring them to invest with the promise of high returns without risks through the “Smart Trade Coin” platform, selling bot applications for automated transactions, and using a “Ponzi Chain” scheme to entice existing users with profits for attracting new users.

Minister Yerlikaya reported the confiscation of 177 real estate properties, 61 movable assets valued at 1 billion Turkish Lira, an unlicensed firearm, a blank cartridge gun, and various digital materials as a result of the raids.

*This message is not intended as investment advice.