The move came after Vebitcoin announced that it stopped all of its activities citing financial strains.

Financial crimes watchdog initiates investigation into cryptocurrency platform after latter announces to stop transactions.
Financial crimes watchdog initiates investigation into cryptocurrency platform after latter announces to stop transactions. (AA)

The Turkish financial crimes watchdog has blocked all bank accounts of cryptocurrency exchange platform Vebitcoin in the country.

The move came after Vebitcoin announced that it stopped all of its activities citing financial strains.

The Financial Crimes Investigation Board (MASAK) also initiated an investigation into Vebitcoin and its managers.

On Thursday, an investigation into another cryptocurrency platform, Thodex, was launched.

READ MORE: Why are cryptocurrencies booming in Turkey?

Turkey seeks arrest of crypto boss over huge fraud, detains dozens

Turkey issued an international arrest warrant on Friday for the founder of a cryptocurrency exchange who fled with a reported over $2 billion in investors' assets.

Police also detained more than 60 people in raids over their alleged links to Thodex, the company headed by the fugitive businessman Faruk Fatih Ozer.

He is being sought on charges of "fraud by using information systems, banks or credit institutions as a tool and founding a criminal organisation," the Anadolu news agency reported.

Turkish security officials on Thursday released a photo of Ozer at Istanubul’s airport on his way to an undisclosed location.

Security sources later confirmed that Ozer, said to be 27 years old, has been in Albania since Tuesday.

The justice ministry has started legal proceedings to seek his arrest and extradition from the Albanian capital Tirana, Anadolu reported.

Interior Minister Suleyman Soylu spoke by phone with his Albanian counterpart about the case, the agency added.

The Thodex exchange suspended trading after posting a mysterious message on Wednesday saying it needed five days to deal with an unspecified outside investment.

READ MORE: Turkey arrests dozens in Thodex crypto exchange fraud

Source: TRTWorld and agencies