Massive illegal betting operation in Istanbul: Network with 26 billion lira volume dismantled

The investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding illegal betting and money laundering was carried out in cooperation with the Financial Crimes Investigation Board (MASAK) and the Istanbul Gendarmerie Command's Cybercrime Combat teams. The investigation uncovered findings that a Malta-based cryptocurrency firm, Fincrypto UAB, and a payment channel named Payfix provided financial infrastructure for illegal betting activities.

Authorities determined that a company named 'iGaming' provided technical support to 40 different blocked illegal betting sites. According to the MASAK report, it was noted that approximately 1 billion dollars in revenue was generated from these sites each month. It was determined that this income was directed to various cryptocurrency exchanges abroad via Payfix.

The investigation stated that the total transaction volume reached 26 billion 532 million lira between January and November 2025. It was understood that the suspects laundered the earnings they obtained by introducing them into the system through shell companies and complex money transfer methods.

Police teams conducted simultaneous operations in 9 different provinces, centered in Istanbul, in the morning hours. 20 suspects were apprehended in the raids. Furthermore, within the scope of the investigation, 11 vehicles, 8 apartments, and 75 real estate properties consisting of a total of 67 plots of land and fields were seized. Additionally, 550 bank and cryptocurrency accounts belonging to 30 individuals were frozen, and a blockade was applied to the suspects' assets.

News Source: 12punto