The founder of the Turkish national cryptocurrency Turcoin fled in an unknown direction with the money of investors. In total from fraud affected about 10 thousand people, the exact amount of stolen funds is unknown, however, according to agentsthese AhvalNews, the offender has awarded more than $212 million.
The sale of tokens was carried out was in Istanbul Hipper firm, founded last year by Mohammed, Satiroglu and Sadun Kaya. The company undertook a massive marketing campaign with the participation of many celebrities. The first recipient of cryptocurrency firm has issued luxury cars.
According to one of the investors, "some people really got the car, but often the car was just put on display to convince potential customers to invest money".
Business model token Turcoin is a classic fraudulent scheme involving a reward for attracting referrals, ad campaign with celebrities and distributing valuable gifts to the owners of the tokens before the end of ICO. However, suspicions arose only at the beginning of June, when the company stopped paying bonuses.
In response to allegations of Mohammed, Satiroglu said in an interview: "I was only the middleman. In the Bank account of our company not a single dollar, all the money went to the account of the Kai in Cyprus."
The business partners believe the Sadun Kaya main culprit. He stopped answering phone calls and his whereabouts are unknown. Satiroglu joined the collective claim of the investors against Kai, and promised to return all the money, if the government unlocks its personal Bank accounts.