Turkish court remands 4 in cryptocurrency case

MUGLA, Turkey

A Turkish court on Monday remanded in custody four suspects allegedly linked to cryptocurrency platform Vebitcoin, according to a security source.

Cybercrime police in the southwestern Mugla province arrested the suspects – the company head, two employees and the spouse of one of its partners.

Last week, the Turkish financial crimes watchdog blocked all of Vebitcoin's domestic bank accounts after it announced ceasing all of its activities, citing financial strains.

The Financial Crimes Investigation Board (MASAK) also initiated an investigation into Vebitcoin and its managers.