175 people suspected of crypto fraud have been arrested in Turkey

Turkish law enforcement agencies have carried out a large-scale operation against an international network suspected of investment fraud involving Forex and cryptocurrencies. During simultaneous raids in Istanbul and the province of Muğla, 175 of the 239 suspects were arrested. The operation covered 286 addresses.

• In Istanbul and Muğla, law enforcement officers carried out raids at 286 addresses.
• 175 of the 239 suspects have been arrested.
• Investigators are examining the activities of 28 companies and 42 call centres.
• Foreign nationals were targeted by the scheme, which offered them investments in Forex and cryptocurrencies.
• According to the Turkish authorities, the volume of online transactions over the past two years has reached around 13 billion Turkish lira.

The operation took place simultaneously at 286 addresses

The Turkish Minister of Justice announced the results of the operation on 18 September Akin Gürlek. According to him, the Istanbul Chief Public Prosecutor’s Office conducted four separate investigations throughout 2026 into companies operating under the guise of call centres.

As part of the investigations, law enforcement officers identified 28 companies, 42 call centres and 239 suspects. Simultaneous raids were launched in Istanbul and Muğla, involving the Turkish police, the financial intelligence unit MASAK, the Turkish National Intelligence Organisation and Interpol units.