According to Turkey’s Ministry of Justice, Turkish law enforcement has dismantled a cross-border network suspected of defrauding foreigners through fake Forex and cryptocurrency investment platforms. So far, 201 suspects have been detained. The investigation shows that the network lured victims through social media and the internet with high-return investment offers. On its controlled platforms, it displayed fictitious profits, and when victims requested withdrawals, it demanded further payments citing reasons such as account freezes, taxes, and other fees. The related funds were then transferred to overseas bank accounts and cryptocurrency wallets. Turkey states that, over the past two years, the network’s related transaction volume was about 13 billion Turkish lira (approximately USD 266 million). Law enforcement has seized around 1.5 billion lira in assets, 80 vehicles, and 12 properties, and has frozen related bank accounts, crypto assets, and company accounts.