Shock in Turkey - Another Turkish Crypto Exchange, Vebitcoin, Stops Trading

Business | April 24, 2021, Saturday // 17:03
Bulgaria: Shock in Turkey - Another Turkish Crypto Exchange, Vebitcoin, Stops Trading

Turkish-based crypto exchange Vebitcoin announced that it had halted trading activities on its platform.

“Recent developments in the cryptocurrency sector have led to an intensity in our transactions. This causes delays in responding to your withdrawal requests and support emails. Your transactions can take longer than expected. FYI,” Vebitcoin said in a statement.

On Thursday, Turkish cryptocurrency exchange Thodex abruptly halted trading on Wednesday citing an unspecified partnership transaction, spurring complaints from users who can’t access their digital assets.

  The exchange, which has been operating since 2017, said in an undated statement on its website that it decided to allow outside investment to serve clients better. Services will remain shut for about five working days while the share transfer is completed, but users needn’t worry about their investments, it said.
 The statement didn’t identify the investor or the nature of the investment. Chief executive and founder Faruk Fatih Ozer didn’t respond to calls to his mobile phone during business hours.

Allegedly, Thodex CEO Faruk Fatih Özer left the country last evening and deleted his social media accounts.

One estimate put the locked-up funds at between -10 billion.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: Turkish, bitcoin
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria