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THE NEW YORK TIMES

October 12th, 2023

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BREAKING! | GENERAL | POLITICS | Â̸̢R̴̠͍͛͠T̵̡̥͌ ̶̘̊&̷͇̿̆ ̸̹͉̒E̷̗̐́Ņ̶̼͋T̴̪͈̒E̵͉͈̒R̶̰̍T̵͚̪̋̾A̶͍͆Į̶̖̈́͋Ṋ̷́̓M̸̗̻̐͆E̴̱͑̉N̷̺͑Ṯ̵̾ | SP̴̯̄O̷̲̊Ȓ̷̻TS̴̫͝ | F̵̨́͋̾̏Ơ̶̛̠͓̘̓͆̀ͅŎ̷͔̞̲̹̂͝ͅD̷̗̾̔̽͂ | BUSINESS | TECHNOLOGY

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Republic of Turkey Officials Arrest Ethereum Miner In Tax Evasion Scandal

By Veronica Santangelo

The arrest of a civilian Ethereum miner in the Republic of Turkey has resulted in a minor scandal, as it was revealed to the public that the miner, Turkish citizen Filiz Koç, had used his Ethereum wealth to launder money in and out of Turkey. Ethereum is a decentralized, open-source blockchain platform (with Ether [Ξ] as its native cryptocurrency). Cryptocurrency mining, already a controversial topic in many nations, including the Republic of Turkey, has received a blow, as Ether and Bitcoin values take a slight dip.

According to Turkish officials, Koç was arrested on rightful suspicion of money laundering and tax fraud. Preliminary estimates of Koç's taxes evaded are around $20 million, making it a considerable loss in tax revenue for the Republic of Turkey. Koç has since been officially charged with tax evasion, tax fraud, money laundering, among several other crimes noticed during his arrest. The entire fiasco has led to a wider discussion, in public forum, among Turkish citizens regarding crypto mining, the latest incident a point in a long list of perceived grievances by crypto skeptics and detractors. However, the Turkish government has provided no further comment regarding the incident.

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