<p>ISTANBUL — Turkish police have detained 62 people as part of an investigation into a cryptocurrency exchange that is being accused of defrauding investors, according to the country’s state-run news agency.</p>
<p>Anadolu news agency said Friday prosecutors issued detention warrants for 16 more people linked to the Thodex cryptocurrency exchange and said the detentions took place in eight provinces.</p>
<p>On Thursday, Istanbul’s chief prosecutor’s office announced it was probing Thodex following complaints from users who could not access their assets. It is thought to have affected some 391,000 investors and an estimated $2 billion in investments. </p>
<p>Thodex owner Faruk Fatih Ozer denied the allegations in a statement on Twitter and said the company was being targeted by a smear campaign. He said the company temporarily shut down trading after accounts showed unusual activity due to a cyberattack. Ozer also said the claims that the money had disappeared were untrue.</p>
<p>Turkish media reports said Ozer had left the country for Albania earlier this week. Ozer confirmed this but claimed the trip was to meet foreign investors.</p>
<p>Last week, Turkey’s central bank announced that it was banning the use of cryptocurrencies for the payment for goods, arguing that they presented “irrevocable” risks. </p>
<p>The decision came as many in Turkey have turned to cryptocurrencies to shield their savings from rising inflation and the Turkish currency’s slump.</p>
