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VASP Compliance Summary — BTCTurk

Eliptik Yazılım ve Ticaret A.Ş. · Exchange · Türkiye

Exported 2026-08-25
Data reviewed 2026-08-05

Overview

Compliance snapshot

Overall regulatory statusAuthorized
EU MiCA statusNo EU authorization
  • Crypto asset service provider licence from the Capital Markets Board (SPK)
  • Lira-denominated markets account for nearly all volume
  • Trustpilot 3.6/5 · 1,120 reviews
  • June 2024 hot-wallet theft of roughly USD 54m, covered by the operator

Medium concern

Licensed under the Turkish crypto asset service provider framework with strong domestic standing, offset by the June 2024 hot-wallet theft and single-currency concentration.

Authorizations

Licenses & registrations

JurisdictionRegulatorAuthorizationStatusReferenceGranted
TürkiyeSermaye Piyasası Kurulu
SPK · https://spk.gov.tr
Crypto asset service provider licenceAuthorizedTR-KVHS-2025-0042025-03-27

Reputation

Reputation scores

Trustpilot-style score3.6 / 5
Reviews1,120
App Store4.3
Google Play4.0
12-month trendup
Press sentiment (12m)+4 / ~3 / −4

Media

Recent press

DateSourceHeadline & summarySentiment
2026-07-09ReutersBTCTurk completes licensing under new regime
The venue was among the first licensed Turkish operators.
Positive
2026-04-15BloombergLira volatility drives domestic crypto volumes
Local trading activity rose with currency swings.
Neutral
2026-01-26CoinDeskExchange details post-incident wallet controls
Key-management changes since 2024 were published.
Positive
2025-10-30Financial TimesTurkish framework tightens capital rules
Licensed operators faced higher own-funds requirements.
Neutral
2024-06-24ReutersBTCTurk hit by hot-wallet theft
Roughly USD 54m was drained; the operator said customer balances were unaffected.
Negative

Risk events

Incidents & enforcement

DateTypeAmountDescription
2024-06-22HackUSD 54,000,000Hot-wallet compromise across several chains; the operator stated customer balances were covered from its own funds.
2022-11-18Outage—Lira deposits paused for around four hours during a banking partner incident.

Profile

Key facts

Founded2013
Websitebtcturk.com
Fiat currenciesTRY, USD
Proof of reservesPartial
Custody modelCold-storage majority under the Turkish licensing regime
Legal entitiesEliptik Yazılım ve Ticaret A.Ş. (TR)
DirectoryBTCTurk
BTCTurk logo

BTCTurk

AuthorizedNo EU authorizationESMA register

Eliptik Yazılım ve Ticaret A.Ş.

Exchange🇹🇷 Türkiye Founded 2013btcturk.com
Visit website
Last reviewed
2026-08-05
OverviewLicensesReputationPressIncidents

Compliance snapshot

  • Crypto asset service provider licence from the Capital Markets Board (SPK)
  • Lira-denominated markets account for nearly all volume
  • Trustpilot 3.6/5 · 1,120 reviews
  • June 2024 hot-wallet theft of roughly USD 54m, covered by the operator
Overall concern
Medium concern

Licensed under the Turkish crypto asset service provider framework with strong domestic standing, offset by the June 2024 hot-wallet theft and single-currency concentration.

Regulatory

Licenses & registrations

JurisdictionRegulatorAuthorizationStatusReferenceGranted
🇹🇷 TürkiyeSermaye Piyasası KuruluSPKCrypto asset service provider licenceAuthorizedTR-KVHS-2025-0042025-03-27
  • 🇹🇷 Türkiye
    Authorized
    Crypto asset service provider licence
    Sermaye Piyasası KuruluSPK
    TR-KVHS-2025-0042025-03-27
    Verify at source
User signals

Reputation

Trustpilot-style score
3.6/ 5
3.6
1,120 reviews
Improving (12m)
App ratings
App Store
4.3
Google Play
4.0
Press sentiment (12m)
Positive4
Neutral3
Negative4
Media

Recent press

  • 2026-07-09
    BTCTurk completes licensing under new regimePositive

    Reuters — The venue was among the first licensed Turkish operators.

  • 2026-04-15
    Lira volatility drives domestic crypto volumesNeutral

    Bloomberg — Local trading activity rose with currency swings.

  • 2026-01-26
    Exchange details post-incident wallet controlsPositive

    CoinDesk — Key-management changes since 2024 were published.

  • 2025-10-30
    Turkish framework tightens capital rulesNeutral

    Financial Times — Licensed operators faced higher own-funds requirements.

  • 2024-06-24
    BTCTurk hit by hot-wallet theftNegative

    Reuters — Roughly USD 54m was drained; the operator said customer balances were unaffected.

History

Incidents & enforcement

  1. 2024-06-22HackUSD 54,000,000

    Hot-wallet compromise across several chains; the operator stated customer balances were covered from its own funds.

  2. 2022-11-18Outage

    Lira deposits paused for around four hours during a banking partner incident.

Entity

Key facts

CMC rank
#46
Fiat currencies
TRY, USD
Proof of reserves
Partial
Custody model
Cold-storage majority under the Turkish licensing regime
Legal entities
  • Eliptik Yazılım ve Ticaret A.Ş. (TR)
Compare

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  • Bitvavo logoBitvavoLow concern
VASPCheck

Licence records, regulator references, enforcement and press for virtual asset service providers.

Dataset updated 2026-08-14

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Reference

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Contact

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Prototype — sample data for demonstration only. Always verify against official registers. VASPCheck is an informational tool, not legal or regulatory advice. Company names and logos are used for identification purposes only.

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