Dogecoin Scam Dupes Investors in Turkey
The Turkish police have launched an investigation into a cryptocurrency investment scheme that has allegedly duped 350 million dogecoins from about 1,500 investors.
Dogecoin Scheme Dupes Investors in Turkey
The chief public prosecutor’s office of Küçükçekmece, a suburb of Istanbul, is conducting a large-scale investigation into a cryptocurrency scam, Turkish news television channel TV100 reported this week.
The scheme claims to be a cryptocurrency system operating under the name “Dogecoin mining.” It promised users a 100% profit in 40 days.
The scam’s alleged mastermind, Turgut V., organized one-on-one meetings in luxury venues, with attractive promotions in order to convince investors to join the scheme. He also used a Telegram channel to direct investors to transfer their dogecoins to the system.
The system worked well for the first three months and investors were able to regularly receive their promised returns. This has caused the number of investors to substantially increase. In total, about 1,500 people transferred their dogecoins to the scheme.
However, in the fourth month, Turgut V. abruptly shut down the system. Unable to log in, confused investors tried to contact him