Turkish Crypto Exchange ICRYPEX Chairman Detained Over Drug Attempted Murder Charges As Regulatory Scrutiny Intensifies

Gökalp İçer, chairman of ICRYPEX—one of Turkey’s leading cryptocurrency exchanges—has been detained in Istanbul on charges of drug trafficking and attempted murder, according to reports from Hürriyet Daily News and Türkiye Today [1][2]. The investigation, initiated in July 2025, centers on allegations that İçer supplied narcotics to an individual who was hospitalized in critical condition following their consumption. Prosecutors accuse him of acting with “probable intent” in the alleged attempted murder case, though no further details about the victim or the incident have been disclosed. The case has drawn attention to the intersection of cryptocurrency operations and criminal activity in Turkey, where regulatory scrutiny of the sector has intensified in recent years.

The charges against İçer emerged alongside broader legal actions targeting Turkey’s crypto industry. Authorities have previously blocked dozens of unlicensed crypto platforms, and this case could signal a shift toward investigating licensed exchanges for potential ties to illicit activities. ICRYPEX, founded in 2018, has pursued aggressive global expansion, establishing branches in Dubai, London, and Toronto, with plans to enter markets in Latin America and South Africa [1]. The detention of its founder may disrupt these ambitions, raising questions about the stability of leadership in Turkey’s crypto sector.

The case has also sparked connections to another high-profile legal dispute involving journalist Fatih Altaylı, whose arrest for criticizing Turkey’s leadership has been linked to ICRYPEX through sponsorship of his YouTube broadcasts. Altaylı, a former TV host, was detained in June 2025 after a viral clip of his commentary was interpreted by prosecutors as threatening President Recep Tayyip Erdoğan. In court, he denied the charges, arguing that his remarks provided historical context rather than political threats [2]. While the two cases are distinct, their overlapping timelines and shared legal entities have fueled speculation about coordinated efforts to silence critics through financial or corporate means.

Analysts note that İçer’s detention underscores the risks of regulatory overreach in Turkey’s crypto market. The country has long struggled to balance fostering innovation with curbing money laundering and other illicit uses of digital assets. This case could accelerate the adoption of stricter compliance measures, potentially deterring foreign investment in a sector already challenged by volatility. For ICRYPEX, the absence of public statements from the company or its remaining leadership suggests uncertainty about how the investigation will impact operations. Stakeholders remain cautious, particularly as Turkish authorities have shown increasing willingness to intervene in corporate affairs under anti-corruption or public order pretexts.

The prosecution’s focus on ICRYPEX also highlights the personal liability of exchange founders in jurisdictions where crypto-related crimes are under heightened scrutiny. While no evidence has been made public linking the platform to the alleged drug transactions, the case reinforces the perception that law enforcement may use broad legal interpretations to target businesses operating in gray areas. This aligns with broader trends in emerging markets, where rapid crypto adoption often outpaces regulatory clarity, creating vulnerabilities for entrepreneurs.

As the investigation continues, observers will be watching for responses from Turkish regulators and ICRYPEX itself. The outcome could set a precedent for how similar cases are handled, particularly regarding the legal responsibilities of crypto executives and the boundaries of government oversight. For now, the detention of İçer remains a focal point in Turkey’s evolving relationship with digital assets, illustrating both the opportunities and risks inherent in its crypto landscape.

Sources:

[1] [“Turkish crypto exchange head detained on drug, attempted murder charges”] (https://www.hurriyetdailynews.com/turkish-crypto-exchange-head-detained-on-drug-attempted-murder-charges-211936)

[2] [“ICRYPEX chairman Gokalp Icer arrested in Istanbul on drug, attempted murder charges”] (https://www.turkiyetoday.com/nation/icrypex-chairman-gokalp-icer-arrested-in-istanbul-on-drug-attempted-murder-charges-3204776)

[3] [“ICRYPEX Chairman Gokalp Icer detained in drug, attempted murder probe”] (https://www.turkiyetoday.com/nation/icrypex-chairman-gokalp-icer-detained-in-drug-attempted-murder-probe-3204733)

[4] [“Information about Halk TV”] (https://ground.news/interest/halktvcomtr)