Stolen Bitcoin worth $ 80K leads to 11 arrests in Turkey • Live Bitcoin News


The Turkish police arrested 11 people for allegedly stealing over $ 80,000 in Bitcoin via hacking.

It seems that every time you upload a news site, you'll see another story about hacking. With so many people storing their cryptocurrency in exchanges or in hot wallets, there is always the risk that some hackers will get their hands dirty in your crypts escort. From converting your SIM to phishing emails, there are many ways hackers can access your account. However, the forces of order sometimes capture these criminals, allowing them to serve justice. The case is that the Turkish police arrested 11 people for stealing over 80,000 dollars in Bitcoin.

Hacks, stolen Bitcoins and Arrests

The forces of order in Istanbul were contacted by 14 people who filed complaints about the theft of Bitcoin. According to the victims, their user emails, passwords and cryptocurrency portfolios have been compromised, allowing criminals to steal bitcoins.

The Cybercrime Unit of the Turkish national police declared that the hackers stole 437,000 Turkish liras in bitcoins, which is just over $ 80,000 USD. The hackers moved the stolen bitcoins to several wallets before converting them to fiat.

Istanbul, Turkey

However, the police were able to find the culprits by tracking down a phone number that one of the criminals registered with a trading platform. The suspects were then tracked down by the police and registered while trying to withdraw funds from banks and ATMs.

The police then conducted a series of coordinated raids to arrest the 11 individuals responsible for criminal acts. 10 of those arrested remain in custody while another has been released. Overall, the police confiscated 22 memory sticks, 3 hard drives, 18 mobile phones and SIM cards, 2 fake ID cards and other devices.

Popular Bitcoin in Turkey

It is no wonder that cryptocurrency is popular in Turkey. The country is seeing its highest inflation rate in 15 years and the lira has fallen 30 percent against the dollar since the beginning of the year. Consumer price growth has hit a staggering 25 percent this year.


This inflation is the reason why Turkey beats every other European country when it comes to owning the cryptocurrency. A recent study revealed that 18% of all Turks have cryptocurrency, which is twice the European rate of 9%. Furthermore, 53% of Turks believe that cryptocurrency will become the dominant online payment method in the future.

These facts underscore the severity of having hacked their cryptocurrency portfolio. Unfortunately, it seems that hacking is not disappearing in a short time, as the potential profits are huge. North Korea's hacking group, Lazarus, is suspected of being responsible for the stealing of $ 571 million in cryptocurrency. An exchange, Zaif, has recently been breached for 60 million dollars, and nobody has noticed for four days.

Have you ever been a victim of a hacking attack? Let us know in the comments below.

Images courtesy of Shutterstock.

Tags: bitcoin, crime, hacking, Turkey

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