Turkey Financial Crimes Investigation Announces Investigation into FTX

Turkey Financial Crimes Investigation Announces Investigation into FTX.

In an announcement published on Monday, Turkey’s Financial Crimes Investigation Agency announced it is investigating crypto exchange FTX, which filed for bankruptcy on Nov. 11.

Look into everything related to FTX

According to an official statement from November 14, the agency will also investigate institutions and people connected to FTX, including banks and electronic money institutions.

FTX’s activities had also been monitored under the Anti-Money Laundering laws of the country, the regulator said.

By investigating Sam Bankman-Fried’s crypto enterprise, Turkey joins jurisdictions such as the US and Bahamas (where its headquarters were), which have also been investigating his crypto business.

Read More: Ikigai Assets Management CIO Says The Firm Has Assets Stuck on FTX 

The news follows a week marked by failed acquisition deals, rumors, insolvency petitions and a $600 million hack of the embattled exchange.

The FTX Turkey try to get all customer funds returned

CoinDesk Turkey reports that FTX Turkey is working to get all customer funds returned within certain limits.

“Even during the technical difficulties caused by FTX.com, the FTX TR [Turkey] team worked hard not to victimize the users by giving their best and continues to work. Sharing transparent information about the process from its social media accounts, we manage this process professionally and in a way that does not harm its users,” said FTX Turkey.

As FTX’s regional subsidiary, FTX Turkey offered users a Google Form to request funds, however, a  delivery date was not specified.

Read More: Hong Kong Based Crypto Exchange AAX Halts Its Withdrawal Activity Citing a Schedule Upgrade

Users were asked to share their International Bank Account Number on the company’s website and Twitter account in order to begin the refund process.

As a result of the exchange’s dramatic collapse over the past few days, approximately 130 companies of FTX Group have filed for bankruptcy in the United States on Nov. 11, including FTX Trading, FTX US, under West Realm Shires Services, and Alameda Research.

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Jamilatul Mahmudah

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