COINO Crypto Exchange Appointed a Trustee: 12 Billion Lira Investigation

COINO Cryptocurrency Asset Trading Platform Appointed a Trustee

According to a statement from the Prosecutor's Office, the report prepared by the Financial Crimes Investigation Board (MASAK) was detailed within the scope of the investigation conducted on COINO Cryptocurrency Asset Trading Platform Inc. It was reported that a total of 211 million 563 thousand 563 lira entered the company's accounts during the July-December period of 2024, while this figure reached 11 billion 948 million 942 thousand 887 lira in the January-May period of 2025.

Suspicious Money Transfers from Company Accounts

The statement noted that a total of 12 billion 350 million 393 thousand 826 lira was sent from COINO's accounts to legal entities, including cryptocurrency providers with foreign origins, and 282 million 923 thousand 646 lira was transferred to individual accounts. Additionally, it was identified that a total of 769 million 786 thousand 12 USDT (approximately 32 billion lira) entered as cryptocurrency until July 23, while 769 million 446 thousand 673 USDT was recorded as outflow.

Money Laundering Detected

It was stated that among the 802 individuals who sent money to the company's accounts, 645 had information related to crimes such as illegal betting, fraud, and credit card abuse. As a result of the analyses, it was reported that the profits obtained from these crimes were deposited into COINO Inc. and after being converted into cryptocurrency, transferred to wallet addresses abroad.

Operations and Seizures

Within the scope of the investigation, 10 vehicles worth 637 million lira, 7 real estates, and 16 companies were seized. During this process, 17 suspects were taken into custody, while 22 suspects were identified to be abroad and in prison. In order to prevent victimization, it was announced that a trustee was appointed to COINO Inc. by the Asset Management Fund (TMSF).