Ever since the Turkish central bank announced the ban on crypto payments, an array of crypto exchanges in the country seem to be running into trouble. While Turkey has over 31 cryptocurrency exchanges, two prominent ones seem to have stirred up the community for its untimely shutdown.
Earlier this week, Thodex, a Turkish crypto platform was called out by its users for making it impossible for the users to access their accounts. While the investigation on this is still underway another exchange, Vebitcoin surfaced in the news for the suspension of its services.
Turkish Crypto Users Witness The Shut Down Of Two Exchanges In One Week
It was recently revealed that the Vebitcoin website exhibited nothing more than a notice pertaining to the halt on its services. The announcement read,
“Due to the recent developments in the crypto money industry, our transactions have become much more intense than expected. We would like to state with regret that this situation has led us to a very difficult process in the financial field. We have decided to cease our activities in order to fulfill all regulations and claims. We will inform you as soon as possible.”
While Vebitcoin is a smaller exchange when compared to Thodex, this abrupt suspension caused a lot of commotion in the country. The country’s financial regulator, Financial Crimes Investigation Board [MASAK] decided to block all the bank accounts that were in association with the crypto exchange.
Thodex CEO Finally Breaks Silence
Even after the arrest of 62 people, the CEO of Thodex, Fatih Faruk Ozer, was still missing. Ozer decided to speak up as rumors about him flying to Albania spread. The CEO addressed the entire incident on Twitter. He noted that the exchange was shut down due to cyberattacks and that no customers were or would be affected.
Furthermore, while Ozer is still outside the country, the Turkish government has reportedly started working on the extradition process.