Billions of Lira in Transactions Detected in Illegal Betting Operation
Authorities in Turkey have uncovered a large-scale illegal betting operation involving billions of lira and the seizure of numerous assets, according to reports released on Wednesday, March 6, 2026. The investigation highlights the growing concern over illicit financial flows facilitated by cryptocurrency.
The investigation, led by the Istanbul Chief Public Prosecutor’s Office, centers on a company named iGaming, which allegedly provided infrastructure for illegal betting websites. Officials determined that the operation reached a monthly transaction volume of approximately $1 billion, with funds being transferred abroad through Fincrypto, a Malta-based cryptocurrency provider.
“The revenues obtained were determined to be transferred to cryptocurrency exchanges abroad via Fincrypto UAB (Paymix) based in Malta,” a statement from the prosecutor’s office said. “According to the MASAK report, the suspects reached a total transaction volume of 26,532,385,074.90 TL (26 billion 532 million 385 thousand 74 TL) between January and November 2025.”
20 Detainments
A coordinated operation involving 20 suspects was carried out simultaneously across nine provinces, including Istanbul, Hatay, Mersin, Ankara, Düzce, Antalya, İzmir, Yalova, Tekirdağ, and Bursa. The goal was to apprehend those involved and halt the illegal activities.
“In order to apprehend the suspects and end their illegal activities, a simultaneous search, seizure and detention operation was carried out on 20 suspects in Istanbul and the provinces of Hatay, Mersin, Ankara, Düzce, Antalya, İzmir, Yalova, Tekirdağ and Bursa, within the scope of the planned operation by the Cyber Crimes Branch Directorate of the Istanbul Provincial Gendarmerie Command,” officials said.
Assets Frozen
Following the operation, authorities secured a warrant from the Istanbul Nöbetçi Peace Criminal Court to seize 75 assets, including 11 luxury vehicles, 8 residences, and 67 plots of land. 550 bank and cryptocurrency accounts belonging to 30 individuals were frozen.
“As a result of the activities carried out, 75 movable and immovable properties, including 11 luxury vehicles, 8 residences and 67 fields and plots, were seized with the decision of the Istanbul Duty Criminal Judge; a blocking operation was applied to 550 bank and cryptocurrency accounts belonging to 30 people,” the statement continued.
The detained suspects were taken to the Istanbul Provincial Gendarmerie Command in Maslak, where they will be processed and subsequently presented to the Istanbul Chief Public Prosecutor’s Office.
