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Home > All Crypto > Dogecoin Rip-off Investigated in Turkey After Founder Allegedly Stole 350 Million DOGE From Traders – Altcoins Bitcoin Information

Dogecoin Rip-off Investigated in Turkey After Founder Allegedly Stole 350 Million DOGE From Traders – Altcoins Bitcoin Information


Turkish police have launched an investigation right into a dogecoin funding scheme that has allegedly duped 350 million dogecoins from about 1,500 traders.

Dogecoin Scheme Dupes Traders in Turkey

The chief public prosecutor’s workplace of Küçükçekmece, a suburb of Istanbul, is conducting a large-scale investigation right into a cryptocurrency rip-off, Turkish information tv channel TV100 reported this week.

The scheme claims to be a cryptocurrency system working beneath the identify “Dogecoin mining.” It promised customers a 100% revenue in 40 days.

The rip-off’s alleged mastermind, Turgut V., organized one-on-one conferences in luxurious venues, with enticing promotions to be able to persuade traders to hitch the scheme. He additionally used a Telegram channel to direct traders to switch their dogecoins to the system.

The system labored nicely for the primary three months and traders have been in a position to repeatedly obtain their promised returns. This has induced the variety of traders to considerably improve. In whole, about 1,500 individuals transferred their dogecoins to the scheme.

Nevertheless, within the fourth month, Turgut V. abruptly shut down the system. Unable to log in, confused traders tried to contact him and his associates by telephone or at their workplace to no avail.

Realizing that they have been defrauded, some traders filed a criticism within the prosecutor’s workplace by their lawyer Sinan Keskin. One of many victims, Ecem Ashyrova, advised TV100: “I deposited 4 million dogecoins. I’ve misplaced 12 million Turkish lire in the mean time. We have been promised to achieve 100% with a 40-day package deal, however what we had within the palm of our hand is gone.”

The Turkish Terrorism and Organized Crimes Bureau launched an investigation on Turgut V. and 11 different suspects related to him. The prosecutor’s workplace has additionally issued a ban on leaving the nation for Turgut V.

Based on the investigation, Turgut V. had collected 350 million dogecoins by the fourth month of the system’s operation. The meme cryptocurrency is at present buying and selling at $0.2849. On the present DOGE value, this quantity is value roughly $100 million.

What do you concentrate on this dogecoin scheme? Tell us within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons





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