A case of illegal sports betting in Turkey is escalating, and this time the crypto industry has also been drawn into the situation.

The key figure in the case is Elden Timur, former vice chairman of Galatasaray and a real estate developer. The prosecution has officially arrested him, accusing him of money laundering. The issue lies in suspicious fund flows between his real estate company NEF and individuals involved in the case — all transactions were conducted through crypto platforms.

This connection has made the situation more complicated. The case has now been upgraded from an ordinary investigation to being handed over to Turkey’s judicial authorities responsible for counter-terrorism financing and anti-money laundering. This means relevant agencies are beginning to conduct in-depth investigations to trace the flow of funds through crypto channels.

For the crypto industry, this is another signal — compliance scrutiny is tightening worldwide, especially when it involves cross-border money laundering and illegal fund flows. How to effectively implement anti-money laundering measures and establish a robust KYC (Know Your Customer) system is no longer just a compliance recommendation but a fundamental survival requirement for the industry.