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Turkey may establish central custodian bank following alleged fraud at two major exchanges

April 27, 2021. Summarized by summa-bot.

Compression ratio: 42.1%. 1 min read.

The Turkish government may be planning to establish a central custodian bank aimed at eliminating counterparty risk for dealing in cryptocurrencies following allegations of fraud at exchanges Thodex and Vebitcoin last week.

Following the arrests of several employees at Turkey-based crypto exchanges Thodex and Vebitcoin last week, government officials are reportedly planning to establish a central bank authority which could custody digital assets.

The report comes as Thodex owner Faruk Fatih Özer is rumored to have fled to Albania following allegations of an exit scam which may have defrauded more than 390,000 users of the crypto exchange out of roughly $2 billion.

Today, Albanian police raided a house in Tirana and detained two people who allegedly provided aid to Özer, but were unable to find the crypto exchange owner.

The state-run news agency Anadolu also announced employees from crypto exchange Vebitcoin were being held by authorities under similar allegations of fraud, later reporting that CEO Ilker Bas was among the four detained.

by summa-bot

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