Turkish Crypto Exchange Tomya's Owner Detained Amid Fraud Scandal

According to CoinDesk, Yavuz Usta, the owner of Turkish crypto exchange Tomya, has been detained along with 24 others in a high-profile fraud investigation by the Istanbul Büyükçekmece Chief Public Prosecutor's Office. Tomya, which sponsors Premier League soccer team Hull City, has gained attention in Turkey due to its affiliation with the team and its owner, prominent local media personality Acun Ilıcalı. The investigation comes as Turkey prepares to introduce crypto legislation and follows the recent 11,196-year sentence handed to individuals involved in the collapse of Thodex, another Turkish crypto exchange, in 2021. Despite the Thodex scandal, crypto adoption in the country has not slowed down. The Tomya investigation was reportedly triggered by a complaint from investor Musa Ekmekçioğlu, who claimed he was defrauded of $211,500 by someone introduced to him by a Tomya employee. A consultant who briefly worked with Tomya was also detained, according to CoinDesk Turkey.