31.08.2026 22:00
The ties between DinamikPay, which was seized under the illegal gambling and money laundering investigation led by the Istanbul Chief Public Prosecutor's Office, and the cryptocurrency exchange Bitexen have come to light. In the investigation, where a suspicious transaction volume of 17.9 billion liras, a shared address, and family connections were identified, Bitexen Board Chairman Kemal Cenk Erdem was arrested on charges of mediating the transfer of funds linked to illegal gambling and laundering assets derived from crime.
In the scope of the investigation by the Istanbul Chief Public Prosecutor's Office into "betting" and "money laundering," 13 suspects were detained and the company was seized during an operation against DinamikPay on August 25. In the investigation, it was assessed that there was strong suspicion of crimes against Bitexen Board Chairman Kemal Cenk Erdem regarding intermediary services for the transfer of funds linked to illegal betting and laundering of property values derived from crime, and an arrest decision was issued.
The Istanbul Chief Public Prosecutor's Office launched an investigation against DinamikPay Elektronik Para ve Ödeme Hizmetleri A. Ş. and company officials within the scope of the crimes of "Violation of the Law on Organizing Betting and Games of Chance in Football and Other Sports Competitions" and "Laundering of Property Values Derived from Crime." In the operation conducted on August 25, 13 suspects were detained, and the company was seized.
In financial examinations conducted in line with MASAK reports, Central Bank of the Republic of Turkey, and TÖDEB determinations, money transfers carried out through the company were scrutinized. In the examinations, it was assessed that the transactions did not consist of individual movements but represented an organized financial structure centered on the payment institution. It was determined that the company reached a transaction volume of approximately 17.9 billion TL between 2024 and 2025, that the said movements were not merely individual transactions, and that they indicated a multi-layered financial structuring.
CBRT WARNING ON DYNAMICPAY'S WEBSITE Users entering DinamikPay's website encounter the warning: "In accordance with the decision taken by the Central Bank of the Republic of Turkey (CBRT), our organization's operating permit within the scope of Law No. 6493 has been temporarily suspended." While the CBRT's said decision was taken earlier, independently of the prosecutor's investigation, it was also reflected in the news that a trustee was appointed to the company's management after the operation.
Kemal Cenk Erdem DYNAMICPAY AND BITEXEN ADDRESSES OVERLAP According to the announcement in the Trade Registry Gazette dated April 6, 2020, the address of cryptocurrency exchange Bitexen's Akmerkez branch is listed as "Kültür Mahallesi Nisbetiye Caddesi Akmerkez Apartmanı No:56/13 Beşiktaş/İstanbul." In DinamikPay's establishment notification found in the Trade Registry Gazette issue dated May 26, 2021, the address is recorded as "Kültür Mahallesi Nisbetiye Caddesi Akmerkez Blok No:56 İç Kapı No:13 Beşiktaş/İstanbul." The exact overlap of the two addresses shows that DinamikPay was established at the address that Bitexen had previously reported as a branch.
SPOUSE CONNECTION IN DYNAMICPAY AND BITEXEN Ayşin Erdem appears as the founder of DinamikPay. In the partnership information on the company's corporate website, Ayşin Erdem is also shown as the main partner with an 81% share. In 2017, Erdem purchased Egemen Menkul Değerler, a brokerage firm whose operations had been suspended at the time, upgraded its license from Group C to Group A, and restructured the institution under the name Dinamik Yatırım Menkul Değerler. Kemal Cenk Erdem serves as the Chairman of Bitexen. In his interview with The Luxury Network Turkey, which is still online, Erdem talks about his family and the founding story of Bitexen.
In the interview, Erdem states that Ayşin Erdem is his wife and that his wife owns an SPK-licensed Group A brokerage firm in Turkey. Erdem notes that because his wife worked in a licensed and regulated structure, he did not want her to enter the structure of crypto markets, which was considered a "gray area" at the time, and therefore they took their steps in the crypto field abroad. He explains that they entered Bitexen in 2020 after his wife was also convinced. In the same interview, Kemal Cenk Erdem states that his brother Yahya Tuğyan Erdem was interested in crypto mining and technologies, and that this interest over time transformed into Bitexen.
DETAIL OF CENK ERDEM AND BITEXEN IN COURT DECISION In the court decision issued within the scope of the investigation, it was stated that Kemal Cenk Erdem was shown as the influential person in the actual management and financial decision mechanism of the group of companies. The decision included the assessment that the suspect's position in the file could not be explained solely by the title of "Ayşin Erdem's husband" and that the organic ties between the companies should be examined.
The decision also drew attention to the marriage and intense financial relationship between Ayşin Erdem, the founder and majority partner of DinamikPay, and Kemal Cenk Erdem, to the fact that DinamikPay's establishment capital was covered by funds obtained from Bitexen, which is linked to Kemal Cenk Erdem, and that in different periods of Dinamik Yatırım's capital, besides Kemal Cenk Erdem's direct funds, high-amount funds originating from Bitexen were used. It was also noted that there were bidirectional financial movements approaching one hundred million TL between him and Ayşin Erdem.
The court decision also stated that there is a network of companies in the financial technology and crypto field through Bitexen, Exenpay, and KCE Finansal Teknoloji Yatırımları. In line with these findings, it was concluded that evaluating Kemal Cenk Erdem as a third party completely independent from DinamikPay is not compatible with the findings in the file.
ARREST DECISION FOR KEMAL CENK ERDEM When the financial records, company connections, and statements in the file were evaluated together, it was concluded that there were findings and indications requiring a detailed investigation to be conducted against Kemal Cenk Erdem regarding the crimes of mediating the transfer of money linked to illegal betting within the scope of Law No. 7258 and laundering property values derived from crime within the scope of Article 282 of the Turkish Penal Code.
The court, evaluating that there are facts showing the existence of strong suspicion of crime against Kemal Cenk Erdem, that the evidence has not yet been fully collected, and that judicial control would be insufficient at this stage, decided to arrest him.
ANOTHER NAME BETWEEN THE TWO COMPANIES: MURAT DAĞDELEN According to the announcement in the Trade Registry Gazette dated June 7, 2024, Murat Dağdelen was appointed as the deputy chairman of the board of directors of DinamikPay. Dağdelen is also among the founding partners of Bitexen. Thus, the connections between DinamikPay and Bitexen draw attention not only through the shared address and the Erdem couple but also through Murat Dağdelen.
The financial movements, fund transfers between companies, and determinations regarding management connections in the court decision reveal that the relationship between DinamikPay and Bitexen has also become a subject of examination for the investigation authorities.