The Turkish National Police's Cybercrime Department has detained 11 suspects in alleged hacking of bitcoins worth more than $80,000, Turkish local media reported.
The Istanbul police had launched an investigation after 14 individuals filed complaints that their crypto wallets were hacked and that their Bitcoins were transferred to other wallets. According to investigators, bitcoins worth 437,000 Turkish lira or over $80,000 were stolen.
The police were behind a group of hackers that had allegedly compromised users' emails, passwords and cryptocurrency wallets. As per reports, ten suspects were taken into custody, while one was released on the condition of then remaining under further judicial control.
From the alleged hackers, police have seized two fake identity cards, 18 mobile phones and SIM cards, 22 memory sticks, and other items, suspected to be used in the hacks.
According to Turkish prosecutors, the stolen cryptos were moved to multiple accounts before subsequently selling it for fiat.
The steep increase in the demand and price of bitcoin resulted in significant number of hacks and thefts of the digital currencies over the years.
Last month, MapleChange, a minor cryptocurrency exchange in Canada, was shut down after all of its funds of around 913 bitcoins worth $6 million were stolen in a hacking act.
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