Istanbul authorities arrest 191 in $3 billion crypto investment scam

Turkish authorities, in coordination with international agencies, have dismantled an international investment fraud network operating in Istanbul, resulting in 191 arrests out of 239 suspects. The operation, which allegedly involved Israeli citizens, defrauded victims of over $3 billion by posing as legitimate service and consulting firms. The network used social media to lure investors into fake forex and cryptocurrency trading schemes, promising high returns before blocking withdrawals and demanding additional payments.