Turkish Customs Confiscate Over 500 Smuggled Bitcoin Mining Rigs!

If you are one of them who is involved or interested in the cryptocurrency world, then you will be surprised to hear that the Turkish customs officials have recently stopped the illegal smuggling in which there was a record smashed in contradiction of the illegal bitcoin mining equipment which were used in the country. When the officials got to know about this tip, then the turkey customer protection anti-smuggling and the intelligence teams immediately raided the place. The warehouse in which this illegal activity was going on is on karabaglar, Izmir. In this warehouse, the cop’s team found almost 501 ASIC rigs of bitcoin mining which were closed in the cardboard boxes.

It is essential for you to know that the customs police have explained that the value after the estimation of the seized material was approximately 500 million Turkish liras. In dollars, this amount is 600000 dollars. In the raid, four of the suspects were immediately arrested by the cops as they had a connection with the illegal activity.  According to some of the reports, it is claimed that the law operation is also going to carry out an active operation in Istanbul, which is the largest city of turkey, and it is also a big custom checkpoint in the state.

Some people are not aware of the fact that the application-specific integrated circuits are the famous way by which bitcoin is mined, but the thing is that they are also prone to consume more electricity which is the widely known issue that occurred in the recent week due to which Elon musk who is the tesla car company owner had reversed the decision of accepting bitcoin payments.

Turkey was a cryptocurrency-friendly country at some time, and now Turkey has recently banned the use of cryptocurrency and all the activities related to it. You might have heard about the news in the last month when the Turkish crypto exchange stopped operations, which had more than 150 million dollars missing in it. This has prevented thousands of customers from having access to their funds. After a short period of time, the Turkish police caught 62 suspects in the investigation of those. After this news went viral, the other local cryptocurrency exchange, which is Vebitcoin, was also closed.

Lutfi Elvan, who is the minister of Turkish treasury and finance, has also announced that the MASAK or the financial crime investigation has the full charge for auditing and overseeing the cryptocurrency exchanges. To counter the fraud activities and the illegal trafficking of money, any cryptocurrency exchange in Turkey is now needed to notify the MASAK for the cryptocurrency transactions that are more than 10000 Turkish liras.