Bitcoin Exchange BtcTurk Cyber Attack
Following a cyber attack, BtcTurk, a prominent crypto exchange in Turkey, experienced unauthorized access to its hot wallets, leading to the theft of crypto balances. The breach affected multiple cryptocurrencies and prompted the exchange to halt crypto deposits and withdrawals temporarily.
Turkey’s Crypto Ownership Landscape
Turkey stands out as one of the top countries in terms of crypto ownership, with a significant percentage of the population participating in cryptocurrency investments. Recent reports highlight Turkey as the third-highest country in terms of crypto ownership, trailing behind the United Arab Emirates and Singapore.
Turkish Crypto Market Trends
The Turkish lira’s volatility has driven a surge in crypto adoption among citizens, pushing them to seek refuge in cryptocurrencies as a hedge against economic uncertainties. Additionally, proposed tax reforms aiming to generate revenue through taxing crypto transactions could further fuel interest in cryptocurrencies as a tax-efficient investment in Turkey.
