Prosecutors say a con artist made off with nearly 1 billion DOGE after soliciting investors for a Dogecoin mining operation.
Some 1,500 investors were told they could make a 100% profit in 40 days by putting their own Dogecoin holdings into a mining project, according to Turkish news channel TV100.
In a report earlier this week, the TV station reported that authorities have launched a criminal investigation into a scam in which investors were robbed of nearly one billion DOGE.
The Küçükçekmece chief public prosecutor's office said a suspect identified as “Turgut V.”
solicited investments from Dogecoin holders in person, at live events in luxury venues, and through online promotions.
The suspiciously high returns came through for three months, attracting more investors, before suddenly shutting down, the prosecutor said.
The Küçükçekmece prosecutor’s Terrorism and Organized Crime Bureau is seeking Turgut V. and 11 others, who have been banned from leaving the country.
Dogecoin Best in Show
Promising they did not intend to take over the project, the group announced a new manifesto and promised it is “supporting the Dogecoin Ecosystem, Community and promoting the future of the Dogecoin Blockchain.”
The group plans to accelerate development efforts by hiring a team of core developers and launching projects to add utility to the broader Dogecoin ecosystem.