Another Turkish Exchange Сlosed in the Crypto Crisis in the Country
According to CNBC, the Turkish authorities have banned the cryptocurrency exchange in the country, which immediately affected the status of Vebitcoin, which has since filed for bankruptcy.
Vebitcoin is the second Turkish cryptocurrency exchange to shut down after the restrictions were imposed. The company said it had stopped all activities due to financial difficulties and since then the exchange promised to inform their clients about the situation as soon as possible.
Turkish authorities have blocked internal Vebitcoin bank accounts and detained four people. According to CoinGecko, Vebitcoin had daily trading volume of nearly $ 60 million before the closure.
Recently, the Turks have turned to cryptocurrency as a way to safeguard their savings from the rapid rise in inflation and the weakening of the national currency, the Lira.
The central bank of Turkey has banned the use of cryptocurrency to buy goods and services since April 30. This move has resulted in the fall of value of bitcoin to $ 60 795 and then continued to decrease.
After the statement of the Turkish authorities, one of the largest cryptocurrency exchanges in Turkey, Thodex, went bankrupt, and its owner fled abroad with investor’s money, he has since been on the wanted list.
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