Following the Collapse, Turkish Law Enforcement is Investigating FTX’s Local Arm

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Last Updated on November 15, 2022 by Bitfinsider

According to an official notification published on Monday, Turkey’s Financial Crimes Investigation Agency is probing FTX.com following the catastrophic collapse of the cryptocurrency exchange last week.

The government will investigate individuals, institutions, banks, and crypto service providers associated with FTX, according to the announcement. This may include FTX Turkey, which is included among 134 organizations associated with Sam Bankman-FTX.com Fried’s that have filed for bankruptcy protection in the United States.

With the probe, Turkey, a rapidly expanding crypto market, joins the United States and the Bahamas (where the global firm has its headquarters) in investigating Sam Bankman-cryptocurrency Fried’s business. After a hectic week marked by a failed purchase proposal, rumors, a voluntary plea for insolvency, and a $600 million hack of the troubled exchange, news of investigations has emerged.

Meanwhile, FTX Turkey has started processing customer withdrawals within specific parameters.

“Even despite the technical issues caused by FTX.com, the FTX TR Turkey staff worked diligently to avoid victimizing the people by giving their all and continues to do so. Sharing transparent information about the procedure via its social media accounts, FTX Turkey manages this process professionally and without causing harm to its users.


Bitfinsider reported last week that the majority of the 134 businesses included in the FTX bankruptcy petition were made aware of the filing at the same time as the general public. At the time, a source informed Bitfinsider that FTX Turkey was hit particularly hard, as personnel in Turkey had invested their salaries and bonuses in the company due to mistrust of local banks and currency inflation.


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