**Crypto Co-Founder Arrested in Turkey Over $4 Billion Ponzi Scheme**
Andreas Szakacs, co-founder of the now-collapsed OmegaPro platform, was arrested in Turkey in July. He's accused of defrauding investors in a $4 billion crypto Ponzi scheme.
- Szakacs allegedly promised huge returns via OmegaProâs âautomated tradingâ algorithm but eventually locked users out of their accounts.
- Founded in 2019 and based in Dubai, OmegaPro offered returns up to 300%.
- The platform began shutting down accounts in late 2022, around the same time as the FTX collapse.
- Turkish police seized computers, mobile devices, and 32 crypto cold wallets, tracking over $160 million in transactions.
- OmegaProâs funds are believed to be linked to the infamous OneCoin fraud scheme.
