Turkey Freezes Betting Baron’s Crypto Assets

On January 30, the Istanbul Prosecutor’s Office reported the seizure of assets belonging to Veysel Şahin, the alleged organizer of an illegal betting network, as part of an investigation into unlawful sports betting and money laundering.

Illegal betting case

The role of Veysel Şahin

According to the Financial Crimes Investigation Board MASAK, Veysel Şahin ran a network of illegal betting websites and provided technical infrastructure to other unlicensed operators.

Investigators believe the activities violated laws on sports betting and gambling, with proceeds later used for money laundering.

Asset seizures

As part of the investigation, Şahin’s crypto assets worth $543 million were frozen. His real estate, company stakes, bank accounts, and investment assets were also seized.

It was separately reported that cryptocurrency accounts worth €460 million were blocked by a global crypto platform at the request of Turkish authorities.

Additional individuals

Link to the Darkex crypto service

In the same case, crypto assets worth approximately $500 million belonging to Şeref Yazıcı, the owner of the Darkex crypto service, were also frozen. Investigators link him to Şahin’s activities.

Manhunt and extradition

Status of the suspect

According to the prosecutor’s office, Veysel Şahin is currently outside Turkey. The authorities are pursuing his extradition.

In Turkish media, Şahin is known as the “betting baron” and, according to investigators, is at the head of an illegal online betting network valued at up to $5.9 billion.