Share this article
Turkish Authorities Detain Four in Probe of Vebitcoin Crypto Exchange: Report
It's the second crypto platform in a week to face troubles in a country that is banning the use of cryptocurrencies for payments.
Updated Sep 14, 2021, 12:46 p.m. Published Apr 24, 2021, 7:02 p.m.
Turkish authorities have detained four people as part of an investigation into Vebitcoin, a cryptocurrency exchange platform, Reuters reported, citing a statement from a local prosecutor on Saturday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The action comes a day after state-run media announced bank accounts associated with the exchange had been frozen and a probe had begun following an announcement on Vebitcoin's website that says the exchange had stopped all of its activities due to financial strains. The most recent tweet on the exchange's Twitter feed said payments were delayed because of the financial stress.
- Vebitcoin is the second crypto platform in a week to face troubles after authorities detained 62 people with suspected ties to the Thodex platform, which went offline on April 18. Its CEO has gone missing amid claims of missing funds.
- It's not been a kind month for crypto in Turkey. Thodex went offline two days after the central bank announced a ban on the use of cryptocurrencies as a means of payment, effective April 30.
- The ban is being enacted at a time when crypto use was soaring as the Turkish lira has faced significant outside selling pressure.
Read more: Bitcoin Price Drops as Turkey Bans Crypto Payments Amid Currency Crisis
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
