Many BtcTurk users on social media faced the notices sent to them. These statements included closing users’ accounts for withdrawals, or asking the source of the money to be deposited. So, why did BtcTurk start asking for this information?
In the past weeks, a major security issue has come to the fore. BtcTurkstarted to be discussed on social media with the e-mail and notification received by its users today. Many BtcTurk users saw a notification in the e-mail sent to them that their accounts were closed for crypto withdrawals. BtcTurk, from its users in this statement miscellaneous information demanded.
In addition to this, several users received an important notification while making a deposit to BtcTurk. Users who open a large amount of deposits, by proving where they got the money from held liable. While both events were discussed by social media users, we decided to delve deeper into the subject.
Information requested by BtcTurk from its users:
- ProfessionHow many years have you worked in this profession?
- Education status
- Income source
- Address confirmation information
- Documentation showing that the phone number is registered to the user’s name
- Front and back of identity document
- Selfie document with a signed petition declaring that no action is taken on behalf of anyone else
- Transferred to the platform or wallet to which the cryptocurrency address belongs
BtcTurk requested the information we saw above from its users whose accounts were closed for crypto withdrawals. The exchange requested the following information from its users trying to deposit a large amount of money:
- belonging to savings account breakdown of account transactionsinformation such as the sales contract for the declared house sale
BtcTurk’s statement on both issues was the same:
“Each platform has different security processes. The documents requested for your transaction are solely for the security of your BtcTurk account.”
So, why is BtcTurk doing such a thing?
With the regulation published in the Official Gazette on May 1, the platforms have been introduced to the follow-up of black money. among liable institutions started to take place.May 4, 2021 The Financial Crimes Investigation Board (MASAK) introduced a regulation to secure the trading of cryptocurrencies after stock market frauds and published a crypto asset guide (Click here to access the guide). With the regulation, crypto money platforms began to be subject to certain responsibilities.
Cryptocurrency platforms, which have to report suspicious transactions to MASAK, will have to pay a fine of up to 4 million liras to the organization if they do not do this. According to the guide published by MASAK, platforms from now on, Transactions exceeding 75 thousand TL within the scope of “customer recognition obligation” identification will make. The information of these transactions will be sent to MASAK within 10 days.
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BtcTurk is currently fulfilling this obligation with the documents it requests from its users. If the company requests documents from some users who do not actively use their account prevent any future problems may be. Therefore, in the coming days other cryptocurrency platforms We can see that you follow BtcTurk.