Turkish Authorities Seize Extensive Assets in Illegal Betting Probe
Turkish prosecutors have ordered the seizure of the entire asset portfolio, including an estimated $500 million in cryptocurrency, belonging to Şeref Yazıcı. The move, announced on Monday, February 2, 2026, is part of an ongoing investigation into illegal betting and money laundering. Yazıcı is alleged to be linked to notorious illegal betting kingpin Veysel Şahin and is suspected of operating illicit betting platforms and providing crucial infrastructure support for such systems.
Details of the Seizure and Allegations
The İstanbul Chief Public Prosecutor's Office, specifically its Smuggling, Narcotics, and Economic Crimes Investigation Bureau, is leading the probe. The seized assets include 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. The $500 million in cryptocurrency assets were frozen by global companies where the accounts are registered, with procedures now underway to repatriate these funds to Turkey.
Yazıcı is identified as the owner of Darkex, a cryptocurrency service provider. Darkex was reportedly operating in Turkey without a license and had been blocked by the Capital Markets Board (SPK) in September 2025. Analyses conducted by the Financial Crimes Investigation Board (MASAK) reportedly found evidence that Yazıcı had generated illegal profits through the activities under investigation.
Connection to Broader Crackdown and Veysel Şahin
This seizure follows an earlier action on January 30, 2026, where Turkish authorities seized assets, including cryptocurrency worth approximately €460 million ($550 million), from Veysel Şahin. Şahin, an alleged illegal betting baron, was imprisoned until 2023 and is believed to have fled abroad, with extradition proceedings currently underway.
The current investigation into Yazıcı and Şahin falls under Turkey's broader efforts to combat illegal gambling and money laundering. These efforts have intensified since late 2025, following an action plan for 2025-2026 signed off by President Erdoğan. The crackdown involves stricter oversight of financial transactions, expanded prosecutorial powers, and increased enforcement against unlicensed platforms and activities. The measures are taken to prevent the laundering and concealment of proceeds of crime, in accordance with Turkey's anti-gambling law (Law No. 7258) and money laundering regulations (Law No. 5549).
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