Thodex and Vebitcoin give the coup de grace to Turkish crypto industry.

We have talked about openings and closings to the crypto industries among European countries  pointing out that in Turkey, the Central Bank had banned the use of bitcoin and other cryptocurrencies for payment of goods and services.

This news is not unexpected but it is very striking because the domestic currency situation is not the best, with inflation in double digits and the purchasing power of the Turkish lira that continues to decline.

A further blow to the Turkish crypto world that risks triggering a crisis.

A new distancing results from the scandal that hit Thodex, one of the largest Turkish exchanges, with its founder Fatih Ozer allegedly escaping to Albania with the amount of over 2 billion dollars after closing his social accounts.

The news was anticipated by the CNN Turk television network and is obviously still to be detailed

It started with a platform problems, which later became unscheduled maintenance, but the exchange is still off line and about 400 thousand users have fallen into panic.

They don’t know if they will be able to recover their money and their crypto.

The mood has not even calmed down after the announcement about an agreement with investors and the possibility to go back online.
And to close a bad week in Turkey, the Ceo of Vebitcoin was arrested with the closing of the activity and the impossibility to proceed with withdrawals.

We hope that everything will be resolved because such a situation erases important openings by institutions to the crypto scene and highlights, more than ever before, the urgent need for regulation at any level and at any latitude.