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Prosecutors in Istanbul report that they have frozen cryptocurrency worth about 543 million dollars in a sweeping case centered on alleged illegal sports betting and money laundering. The target is Veysel Sahin, a figure widely referred to in Turkey as the “betting baron”, who investigators believe coordinated a large online betting operation.

Authorities say the action is not limited to digital assets. They report seizing Sahin’s real estate holdings, shares and stakes in businesses, and balances in bank and investment accounts, describing the measures as part of an effort to cut off the financial base of the alleged network.

Financial Intelligence Claims a Multi Site Betting Operation

According to findings cited by prosecutors, Turkey’s financial monitoring work indicated a structure that ran multiple illegal betting sites while also supplying technical services to other unlicensed operators. Investigators argue this kind of setup can scale quickly, allowing organizers to profit not just from one platform but from an entire ecosystem of white label betting activity.

Officials have also pointed to estimates that value the suspected operation in the billions of dollars. While those figures are not a court ruling, prosecutors say they help explain why the asset freeze spans everything from property to corporate holdings, alongside crypto balances they believe were connected to the alleged proceeds.

Extradition Push and a Second Crypto Freeze Linked to Darkex

Prosecutors say Sahin is currently outside Turkey and that steps are being taken to secure his return through extradition channels. The case has become a high profile test of how aggressively Turkey can pursue suspects and assets when key players are believed to be operating abroad.

The investigation has also widened to include another major crypto freeze reported at around 500 million dollars tied to Seref Yazici, described as the owner of the crypto service Darkex and linked in reporting to Sahin. Authorities present the move as part of a broader strategy aimed at the payment rails and crypto pathways they believe were used to move and conceal funds.

Source: https://www.ntv.com.tr/turkiye/yasa-disi-bahis-ve-kara-para-sorusturmasi-veysel-sahinin-460-milyon-eurosuna-el-konuldu-1709723