Turkish authorities have arrested 68 suspects in a major operation targeting a money laundering network linked to illegal betting and gambling, following an investigation involving transactions worth more than 76.2 billion Turkish lira (approximately $2.22 billion).

The operation was carried out in Istanbul after an investigation launched by the city's Cybercrime Department under the coordination of the Chief Public Prosecutor's Office, based on an analytical report prepared by Türkiye's Financial Crimes Investigation Board (MASAK), The Caspian Post reports via Anadolu Agency.

Investigators found that large sums transferred through electronic payment systems were distributed across multiple bank accounts before a significant portion of the funds was moved to cryptocurrency platforms. Payment descriptions reportedly contained references linking the transactions to illegal betting and gambling activities.

More than 100,000 financial transactions passed through the suspects' accounts. A substantial share of the money was converted into the stablecoin USDT and transferred to external cryptocurrency wallets in an apparent attempt to conceal the origin of the funds.

After identifying the suspects and their locations, police carried out coordinated raids across Istanbul, detaining all 68 individuals. The suspects have been taken into custody and are undergoing further investigation as authorities continue one of Türkiye's largest financial crime crackdowns targeting illegal betting networks.