Dogecoin Mining Scam sees Turks lose $119 Million

TL;DR Breakdown Unknown scammer duped Turks $119m in Dogecoin mining scam.Turk V promised 100 percent ROI on mining scam.Over 1,500 Turks fell victim. Over 1,500 residents of Turkey have lost not lesser than $119 million in a Dogecoin mining scam that promised them huge illusional returns. The scam was allegedly perpetrated by an unknown person simply identified as “Turgut V” and his team. He promised 100 percent returns on investment in Dogecoin mining technology local report in Turkey reveals. The Dogecoin mining scammer told investors in-person at luxury properties and via Zoom calls that they would make huge returns. Turgut V deceived Turks into buying Dogecoin, handing it over to him for him to invest it in mining technology. Victims of the scam through their lawyer filed a complaint with the Chief Public Prosecutor’s Office in Küçükçekmece, a suburb of Istanbul. After the entire cycle, the system suddenly closed, and Turgut V disappeared. A victim told local media in Turkey that “the system worked for four months” and “Everything was going well.” Before Dogecoin mining scam, Turks continued to get conned in crypto heists After the fall in the value of the Turkish Lira, there’s been a surge in crypto adoption and investment by several Turks. However, after the rise in crypto adoption in the country, they have been unfortunate to be victims of series of crypto fraud. At the end of April, Turkish authorities jailed six sus...