ICYPREX investors in shock! Funds transferred to El Salvador have vanished, investors are victims, and investigations are deepening

The Istanbul Chief Public Prosecutor's Office initiated legal proceedings against Icrypex Kripto Varlık Alım Satım Platformu A.Ş. on July 30, 2025, on allegations that “criminal organizations were converting proceeds from crime into foreign currency or crypto assets and introducing them into the financial system.”

Following a report prepared by the Financial Crimes Investigation Board (MASAK), the bank accounts, assets in electronic money institutions, vehicles, real estate, and company partnership shares belonging to Gökalp İçer and Icrypex A.Ş. were seized.

ALLEGED 600 MILLION DOLLAR DIGITAL ASSET

It was alleged that Oğuzkaan İçer, the older brother of ICRYPEX Chairman of the Board Gökalp İçer, took approximately **600 million dollars worth of digital assets with a cold wallet from Istanbul to Canada on July 28, one day after his brother's arrest.

Sabah columnist Mahmut Övür, who covered the allegations in his column, stated that security sources confirmed the older İçer's departure to Canada. Övür stated, “Those with knowledge of the cryptocurrency market are voicing a serious allegation: ‘Oğuzkaan İçer smuggled 600 million dollars worth of digital assets to Canada along with a cold wallet.’”

HAD BEEN NAMED IN SUSPICIOUS CASES BEFORE

It is known that Gökalp İçer was previously the subject of a criminal complaint by Turan Karakaş, a member of the board of directors of the Cumhuriyet Foundation, within the scope of allegations that he attempted to seize the 100-year archive of Cumhuriyet Newspaper as an NFT, and that he was also tried on charges of defrauding three Azerbaijani diplomats.

CRYPTOCURRENCIES TRANSFERRED TO EL SALVADOR

It has been learned that ICRYPEX, where Gökalp İçer is the chairman of the board, established two companies, one in Turkey and one in El Salvador, and that investors were encouraged to conduct transactions through the company in El Salvador on the grounds that it was “more advantageous.”

Within the scope of the investigation, it emerged that the money Turkish investors deposited into the crypto exchange was transferred to El Salvador and that these investors could absolutely not access their accounts following Gökalp İçer's arrest.

It was learned that the victims have not received any information regarding the fate of their investments and have organized on social media and messaging platforms to initiate legal processes.

TMSF'S SEIZURE DECISION AND STATEMENT

Gökalp İçer's assets were seized by the Savings Deposit Insurance Fund (TMSF). However, investors who reported the situation to the TMSF experienced great disappointment when they learned that the Fund had no authority over the company in El Salvador.

The victims, who communicate via Telegram and WhatsApp groups, have launched a legal battle against the company in El Salvador.

ICRYPEX GLOBAL'S STATEMENT: THE PROBLEM IS DUE TO TECHNICAL REASONS

El Salvador-based ICRYPEX Global described the users' inability to access their money as a “temporary interruption due to technical reasons” in a statement made on its social media accounts.

The company's post dated October 10 included the following statements:

Important Announcement from ICRYPEX Global

Dear Users,

As we previously announced, we have experienced a temporary interruption in access to our systems due to reasons beyond our control.

Following the restoration of access, our technical teams have successfully resolved the vast majority of the issues experienced during this process.

We know that many of you have noticed the significant improvements made to the platform.

Our work continues at full speed, and we aim for all systems to operate at full capacity and without interruption in the near future.

We sincerely thank you for standing by us and for your support during this process.

To show our gratitude, on October 10, we will deposit an amount equal to 5% of your total portfolio value into your ICPX accounts.

User security and service quality remain our top priority at ICRYPEX Global.

Thank you for your patience, understanding, and continued trust.

ICRYPEX Global

TMSF: “ICRYPEX GLOBAL'S STATEMENTS DO NOT REFLECT THE TRUTH”

The TMSF quickly refuted the company's statement and made the following announcement:

ICRYPEX GLOBAL's Statements Do Not Reflect the Truth

The Appointment of a Trustee Applies Only to ICRYPEX TURKEY

Within the scope of the investigation conducted by the Istanbul Chief Public Prosecutor's Office, the Savings Deposit Insurance Fund (TMSF) has been appointed as a trustee only for ICRYPEX TURKEY.

All transactions have been carried out smoothly at ICRYPEX TURKEY since September 3, 2025.

El Salvador-based ICRYPEX GLOBAL is not managed by the trustee.

ICRYPEX GLOBAL's Recent Statements Are Misleading

In the posts made by the ICRYPEX GLOBAL company on its own website and social media accounts:

* It was stated that the companies in Turkey and El Salvador operate on the same system,

* That the TMSF is also authorized in the company in El Salvador,

* And that for this reason, there are restrictions on ICRYPEX GLOBAL's transactions.

These statements do not reflect the truth.

As previously announced to the public:

* ICRYPEX GLOBAL is not managed by the trustee,

* The TMSF has no authority over ICRYPEX GLOBAL.

Investors are requested not to rely on misleading information.

Respectfully announced to the public and our investors.

PROSECUTOR'S OFFICE DEEPENS THE INVESTIGATION

According to the information obtained, the Istanbul Chief Public Prosecutor's Office is examining the allegations extending from the past to the present regarding ICRYPEX Turkey, ICRYPEX Global, and Gökalp İçer in all aspects.

At the center of the investigation are the allegations that Turkish investors cannot access their money transferred to the system in El Salvador and that this money may have been directed to different accounts through international crypto networks.

Investors who trade through El Salvador-based ICRYPEX Global have been unable to access their money for months. While this company, over which the TMSF has no authority, is stalling the process with “technical problem” explanations, the prosecutor's office in Turkey has placed the money transfers at the crypto exchange under scrutiny.

Crypto investors, meanwhile, continue to track their losses by uniting in social media groups.

News Source: Mustafa Büyüksipahi