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[BUSINESS] · Türkiye · 26 sources

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Bitexen owner Kemal Cenk Erdem arrested in Istanbul

Kemal Cenk Erdem, the owner of the Bitexen cryptocurrency platform, has been arrested in Istanbul as part of the DinamikPay investigation. He faces charges of concealing the illegitimate source of asset values and brokering the transfer of funds related to illegal betting.

Court findings revealed that while Erdem is not listed as a direct shareholder or board member of Dinamik Elektronik Para ve Ödeme Hizmetleri A. Ş. (DinamikPay) in commercial registries, he is the spouse of the company's founder and majority shareholder, Ayşin Erdem. The court identified Erdem as an influential figure in the group's actual management and financial decision-making processes.

Financial investigations highlighted significant money movements, including nearly 100 million TL in two-way transactions between Ayşin and Kemal Cenk Erdem. Additionally, the court noted that DinamikPay's founding capital was provided by Bitexen, a company with strong financial links to Erdem. Erdem has denied all charges, stating he has had no commercial activity with the company in question.

Entities

Ayşin Erdem · Bilal Köseoğlu · Bitexen · DinamikPay · Esma Batmaz · Hilal Köseoğlu · Istanbul Chief Public Prosecutor's Office · Kemal Batmaz · Kemal Cenk Erdem

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