Turkish prosecutors have ordered the seizure of the entire asset portfolio of Şeref Yazıcı, whom they allege is linked to illegal betting kingpin Veysel Şahin, including cryptocurrency holdings worth an estimated $500 million.
In a statement on Monday, the İstanbul Chief Public Prosecutor’s Office said the measures were taken as part of an ongoing investigation into suspected violations of Turkey’s anti-gambling law and money laundering regulations.
Prosecutors said Yazıcı is suspected of operating illegal betting platforms and providing infrastructure support to such systems.
According to the statement, analyses conducted by the Financial Crimes Investigation Board (MASAK) found evidence that Yazıcı had generated illegal profits through the activities under investigation.
To prevent the laundering and concealment of proceeds of crime, prosecutors said they requested a court order to seize assets believed to have been obtained through illegal betting operations.
A criminal court of peace approved the request, authorizing the confiscation of Yazıcı’s movable and immovable property, shares in companies and partnerships, deposits and investment accounts held at banks and financial institutions and assets located in cryptocurrency markets and exchanges.
Prosecutors said cryptocurrency assets worth approximately $500 million held at global firms were frozen by the companies where the accounts are registered and that procedures are underway to return the funds to Turkey.
Turkish media reports have described Yazıcı as a prominent figure in Turkey’s cryptocurrency sector in recent years.
He is reportedly the the owner of Darkex, a crypto asset service provider that offers services related to cryptocurrency transfers and digital payment infrastructure.
Broader crackdown on illegal betting
The asset seizure comes amid a broader crackdown on illegal gambling networks in Turkey, as authorities intensify efforts to dismantle online betting operations and their financial backbones.
In recent months prosecutors have targeted payment platforms, electronic money institutions and cryptocurrency channels accused of facilitating illegal betting transactions, while regulators have moved to suspend or revoke licenses of companies linked to money laundering.
Gambling remains tightly restricted in Turkey. Casinos were banned in 1998, and non-state online gambling was outlawed in 2006, though state-run lottery and betting services remain legal.
Turkish authorities say such activities fuel addiction and drain billions of lira from the economy.