Turcoin was advertised by its creators as a national Turkish currency, however, the reality turned out to be rather different.
Muhammed Satiroglu, the main shareholder of the company, launched Turcoin in 2017, in collaboration with his partner Sadun Kaya. Now, they are subjects of a criminal complaint after they stopped payments to the project investors.
Satiroglu now insists, and he is the holder of 49% of the company shares, that he was just the mediator between his partner and the investors. Kaya, from his side, insists that he ran out of cash (21 mln USD which were invested) and cannot make the payments anymore.