Snippets from Turkey: Cryptocurrency Investment Leads to Suicide!


From time to time, we come across different developments from Turkey. It draws even more attention when it comes to cryptocurrencies. In the latest development, there is a suicide incident. Let’s have a look at the details.

Detail of cryptocurrency in suicide

The event takes place in Diyarbakır. There is a claim that Mehmet Denizli lost his money in a cryptocurrency exchange. Thereupon, Denizli committed suicide by shooting first at his wife, Basra Denizli, and then at himself. In the bitter incident, it is stated that Denizli’s money went into depression when he lost it on the cryptocurrency exchange.

The crypto-currency-focused incident occurred in the Medya Mahallesi of Diyarbakir’s Kayapınar district. The issue was settled when Denizli, who was the janitor, did not distribute bread in the morning. When the residents of the building reported the matter to the manager, it became clear what had happened. Denizli’s house on the ground floor was entered after he did not answer the phone. While Basra Denizli died at the scene, his wife, who was seriously injured, was taken to the Mehmet Denizli Gazi Yaşargil Training and Research Hospital. However, Mehmet Denizli also lost his life despite all the interventions. The police, who started an investigation into the incident, continue their investigation.

Important warning about cryptocurrencies from the famous name

Famous economist at Massachusetts Institute of Technology (MIT), Prof. Dr. Daron Acemoğlu made statements on his social media account. The explanations are about cryptocurrencies. Acemoğlu says that there is an increasing centralization situation for the credit of information. Daron Acemoğlu states that his statement at this point does not mean positive thinking for cryptocurrencies.

Acemoğlu, whose opinions we occasionally give as, states that the positive aspect for cryptocurrencies is only about money and monetary policies. In this context, he states that States have too much control over money and monetary policies. According to him, this means collecting a lot of power. Acemoğlu points out that cryptocurrencies limit this power. Pointing out that this aspect of Bitcoin is positive, Acemoğlu states that his concern stems from the fact that these assets have a disruptive philosophy.

For this disruption, Acemoğlu looks to Web 3.0 and even some central finance. Referring to a technology-based decentralization here, Acemoğlu emphasizes that this situation will also mean disruptive movements. Acemoğlu acknowledges that the cryptocurrency industry has a large audience. However, there are some problems with it. For example, excessive energy consumption is among them being linked to illegal activities in the home. For the future, Acemoğlu is concerned about whether a blockchain-based currency will be useful. Another concern is about privacy. According to him, if states switch to digital currency technology and keep data about their citizens with digital records, then there will be no privacy.


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