<p>ISTANBUL — Turkish authorities arrested four people Monday on fraud charges in connection with an investigation into a local cryptocurrency trading platform — the second to be probed in recent days.</p>
<p>Vebitcoin CEO Ilker Bas, his business partner — who is also his wife — and two other employees were detained in western Mugla province.</p>
<p>The digital currency platform said it had shut down operations this week due to financial difficulties. Turkish authorities blocked the company’s bank accounts.</p>
<p>Vebitcoin is the second cryptocurrency platform in Turkey to come under investigation over the past week.</p>
<p>Authorities believe another named Thodex defrauded some 391,000 people out of an estimated $2 billion in investments. An international arrest warrant has been issued for its owner, Faruk Fatih Ozer, and 62 others were detained.</p>
<p>Earlier this month, Turkey’s central bank announced that it was banning the use of cryptocurrencies to pay 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>
