A second bitcoin exchange collapses in Turkey amid crackdown on cryptocurrencies

LONDON — A second cryptocurrency exchange has collapsed in Turkey amid a crackdown on the industry.The platform, Vebitcoin, said in a brief statement on its website that it had ceased all activities after facing financial strain and that it would update clients on the situation as soon as possible.It comes days after another firm, Thodex, went offline with its CEO reportedly leaving the country. Local media reports say Thodex founder Faruk Fatih Ozer flew to Albania, taking $2 billion of investors' funds with him. Turkey has issued an international arrest warrant for Ozer, while 62 people were detained in connection with complaints filed against Thodex.Turkish authorities have blocked Vebitcoin's domestic bank accounts and detained four people as part of a probe into the exchange, Reuters reported Saturday. According to CoinGecko data, Vebitcoin had almost $60 million in daily trading volumes prior to its collapse.Some Turks have turned to crypto as…

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