Istanbul, May 12 – Turkish law enforcement, in a large-scale operation spearheaded by the Istanbul Anti-Terror Branch Directorate, has apprehended 43 suspects across 16 provinces. The operation targeted individuals suspected of providing financial support to the ISIS terrorist organization, primarily through the use of cryptocurrency.
Extensive Investigation into ISIS Financing Through Crypto Wallets
The Istanbul Police Department’s Anti-Terror Branch Directorate, in coordination with the Istanbul Chief Public Prosecutor’s Office, has been conducting an investigation into the detection and decryption of terrorism financing activities. A detailed examination by the Financial Crimes Investigation Board (MASAK) revealed that cryptocurrency wallet addresses, believed to be affiliated with ISIS, were being used for fundraising through ISIS-linked Telegram channels. The funds collected were then transferred to cold wallets to complicate tracking.
Open-source intelligence and MASAK data confirmed that these cryptocurrency wallet addresses were utilized for terrorism financing. Between 2021 and 2025, approximately $170,000 in funds were collected and subsequently transferred to ISIS members. Furthermore, suspects were found to have financial transaction relationships with individuals who had judicial records related to terrorist organizations.
Nationwide Raids Lead to Multiple Arrests
In the early hours of Tuesday, simultaneous operations were launched across 16 provinces, including Ankara, Antalya, Bilecik, Bursa, Hatay, Izmir, Kayseri, Kilis, Konya, Malatya, Mersin, Sakarya, Şanlıurfa, Trabzon, and Van, in addition to Istanbul. These raids resulted in the arrest and detention of 43 suspects. During searches conducted at the suspects’ residences and on their persons, a significant amount of digital material was seized. The investigation is ongoing.
Chief Public Prosecutor’s Office Details the Investigation
A statement from the Istanbul Chief Public Prosecutor’s Office confirmed that the Bureau for the Prevention of Terrorism Financing and Money Laundering Crime was conducting an investigation into the financing activities of the ISIS armed terrorist organization. The statement highlighted that the Istanbul Police Department’s Anti-Terror Branch Directorate and MASAK had identified cryptocurrency wallet addresses directly or indirectly affiliated with ISIS. These addresses were shared on Telegram channels such as ‘Muslimuun11’, ‘Sisters of Yusuf’, and ‘Al-Azaim’, which are known to be linked to terrorist organizations.
These channels were used to collect money for the organization and its members, and the organization’s propaganda was disseminated through its media outlets. Cryptocurrency wallet addresses were shared on these media outlets and Telegram channels to conduct fundraising campaigns for ISIS-affiliated families in alleged prisoner camps in Syria.
Messages and calls for help regarding the conditions in the Al Hol camp (linked to ISIS) were posted on the channels. Although some Telegram groups presented themselves as charitable organizations, they were found to be connected to the terrorist organization. Research conducted on open sources regarding the cryptocurrency wallet addresses revealed that these addresses were tagged with “Terrorist Financing” in connection with ISIS.
A total of 19 cryptocurrency wallet addresses were identified. Over a six-month period, efforts were made to identify individuals involved in buying and selling crypto assets to and from these addresses. Information was requested from cryptocurrency exchanges operating under MASAK in Turkey.
The investigations revealed the identities of 81 individuals who performed cryptocurrency withdrawal/deposit transactions. The transaction volume for crypto asset withdrawals and deposits to the 19 cryptocurrency wallet addresses through regulated exchanges in Turkey was approximately $170,000. Furthermore, investigations by the Anti-Terror Department concerning these 19 cryptocurrency wallet addresses identified numerous crypto withdrawal-deposit transactions with other cryptocurrency wallet addresses tagged as linked to the ISIS terrorist organization.
The statement also noted that some suspects, beyond the aforementioned wallet addresses, provided funds by sending crypto assets to other ISIS-linked cryptocurrency wallet addresses. Ongoing investigations showed that some suspects converted their dollar-denominated crypto assets from cryptocurrency wallets into Turkish Lira and transferred them to bank accounts, then moved them to cold wallets to complicate tracking. Examinations of HTS (Historical Traffic Search) and bank activities revealed that the suspects sent money under the guise of “infak, aid, donation” to numerous individuals or associations with existing investigation-prosecution records for “terrorism financing” offenses, thereby providing funds.
The synchronized operation, targeting 51 addresses in 16 provinces, including Istanbul, aimed to identify criminal evidence and decrypt the activities of the 49 identified suspects. As a result, 43 suspects were apprehended.
