Founders of Turkey’s “National Cryptocurrency” Arrested For Ponzi Scheme

[kreslik.news]

Cryptocurrency fraud cases continue to pop up and this time, it’s Turkey’s turn. Istanbul cops have arrested two individuals, Sadum Kaya and Muhammed Satıroğlu, who had allegedly involved in a crypto-related Ponzi scheme, cheating over 10,000 victims.

According to local news outlets, the duo reportedly founded an Istanbul-based company called Hipper that presented a new cryptocurrency called Turcoin, which was promoted and self-described as Turkey’s national digital currency.

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The altcoin began functioning in October 2017, and its operators are supposed to have duped investors of TRY 100 million ($22.0 million).

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