Turkey Restricts Bank Accounts from Crypto Exchange

Last Updated: April 28, 2021

Turkish authorities have blocked bank accounts onshore that are associated with any cryptocurrency exchange platforms in the country. The announcement was made after Vebitcoin said that it had ended all activity, as a result of financial issues.

The Turkish Financial Crimes Investigation Board is currently investigating the platform, as well as the people who run it. Additionally, 62 people have been detained because of criminal complaints filed against Thodex, another crypto trading platform.


Thodex’s CEO went missing late April, and the platform subsequently disappeared, which meant that hundreds of clients lost cryptocurrency assets.

On top of this, the Turkish central bank said that they are currently banning cryptocurrency, just as many have resorted to cryptocurrency to get around the problems associated with the lira.

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