Two cryptocurrency exchanges have closed in a week and are the subject of fraud investigations in an apparent clampdown in Turkey.

A total of 68 people were arrested as part of an investigation into cryptocurrency exchange platform Thodex, according to the country’s state-run news agency yesterday.

Police carried out raids in eight provinces and are seeking to arrest a further 12 suspects that warrants have been issued for, according to Anadolu Agency.

The Justice Ministry has also reportedly issued an international arrest warrant against Thodex founder and Chief Executive Fatih Faruk Ozer, who is said to be currently be in Albania.

Lawyer Abdullah Usame Ceran filed a criminal complaint against Ozer alleging “aggravated fraud.” Turkey’s financial crimes watchdog announced it blocked all of the platform’s bank accounts in the country as of Wednesday.

Turkish authorities have also said four people linked to cryptocurrency platform Vebitcoin were arrested on accusations of fraud on Saturday. Officials launched an investigation and blocked the accounts of the platform.

Last week, Turkey’s central bank said it would ban the use of cryptocurrency from 30 April for payments for good and services.

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