Exchange review · Middle East & Africa
BtcTurk Review 2027: Is It the Right Exchange for You?
BtcTurk is the oldest crypto exchange in Türkiye and one of the largest. It opened in 2013 and has grown with a market where crypto has become a mainstream way to protect savings from inflation. It offers trading in Turkish lira, bank transfers at any hour and a professional platform for active traders.
BtcTurk has also been hacked twice in two years. The company covered the losses, but the incidents are central to any assessment. This 2027 review describes the exchange, its position under Türkiye's crypto law and what users should take from its recent history.
A Pioneer of the Turkish Market
BtcTurk was founded in 2013, which makes it one of the earliest exchanges anywhere to offer trading against a national currency other than the dollar. In its first years it was a small business serving a niche. That changed as the lira lost value and interest in bitcoin and stablecoins surged.
The company expanded steadily, partnered with Turkish banks for round-the-clock lira transfers and became a major sponsor of Turkish football, including the national teams. It reports several million customers. Its chief executive is Özgür Güneri.
Two Platforms
BtcTurk offers two ways to trade.
- BtcTurk (the easy platform). A simple buy and sell service for beginners, available on the web and in the app.
- BtcTurk | Kripto. The professional exchange, with an order book, charts, advanced order types and lower fees. Most volume passes through it.
Both use the same account and balances. Markets are quoted in lira and in USDT, and the exchange lists a wide range of coins for a domestic platform. It does not offer leveraged derivatives to retail customers.
The company also provides staking on selected coins and services for corporate clients.
- Spot fee
- —maker / taker, base tier
- Founded
- 201314 years in 2027
- Trust score
- 7 / 10CoinGecko, live
- Proof of reserves
- —licensed or registered
Fees
On the professional platform, fees follow a maker and taker schedule with tiers based on 30-day volume. The base rates are moderate, with makers paying less than takers, and they fall for active traders. The easy platform includes a spread or a higher commission in the quoted price.
Lira deposits by bank transfer are free on the exchange's side. Lira withdrawals carry a small fixed fee. Crypto withdrawals are charged per coin and network.
As always, the cheapest path is to deposit by bank transfer and use limit orders on the order book.
The 2024 and 2025 Hacks
June 2024. On 22 June 2024 BtcTurk detected a cyberattack that led to unauthorised withdrawals from some of its hot wallets. Independent estimates put the loss at about $55 million. The exchange halted crypto deposits and withdrawals, said that most assets were in cold storage and unaffected, and stated that its financial strength far exceeded the amount lost, so customers would not be affected. Other exchanges helped freeze part of the stolen funds.
August 2025. On 14 August 2025 the exchange again reported unusual activity in its hot wallets and suspended crypto transfers. Blockchain analysts estimated outflows of about $48 million across several networks. BtcTurk gave the same assurance: cold wallets were safe, the company's resources covered the loss, and trading and lira transfers continued.
In both cases customer balances were honoured. The pattern is nonetheless troubling. Two nine-figure-lira breaches of the same type within fourteen months suggest that the changes made after the first attack were not sufficient. Hot wallets must hold some funds to process withdrawals, but repeated compromise points to weaknesses in key management or internal systems.
There is an older incident as well. In 2018 personal data of several hundred thousand users was stolen from the exchange; the breach became public in 2021 when the data was offered for sale. No funds were taken, but victims were exposed to phishing.
What the Hacks Mean for Customers
A fair reading has two sides.
On one side, BtcTurk has shown that it can absorb large losses without passing them to customers. Its statements about financial strength have proved accurate so far, and lira services were never interrupted.
On the other side, crypto withdrawals were unavailable for a period after each attack, and a third breach cannot be ruled out. An exchange that pays for hacks from its own pocket can do so only while its pocket is deep enough.
Sensible conclusions for a user:
- Keep on the exchange only what you need for trading.
- Withdraw long-term holdings to a wallet you control.
- Consider having accounts at two Turkish exchanges, so that you are never locked out of the market entirely.
- Follow official announcements closely after any incident.
Regulation in Türkiye
Until 2024 Turkish exchanges faced few specific rules apart from anti-money-laundering obligations supervised by the financial crimes agency. The failure of several local platforms in 2021, most notoriously Thodex, pushed lawmakers to act.
The crypto law passed in July 2024 places crypto asset service providers under the Capital Markets Board. Existing platforms had to apply to continue operating and are included in a published list while full licensing proceeds. BtcTurk is on that list. The framework sets standards for capital, organisation, custody, information systems and liability towards customers.
One element of the law is directly relevant to hacks: platforms are liable for losses resulting from cyberattacks and operational failures, and where the platform cannot cover them, responsible managers may be held personally liable. This strengthens customers' position compared with the past.
Proof of Reserves and Audits
BtcTurk has commissioned reserve and security audits from international firms and has published summaries of their findings, stating that customer assets are fully backed. After two hacks, customers are entitled to expect updated, detailed evidence. Review what the exchange has published most recently before deciding how much to hold there.
Opening an Account
BtcTurk serves residents of Türkiye. You need a Turkish identity number and document, and bank transfers must come from an account in your own name. Verification is completed online.
Lira transfers work around the clock with partner banks. Crypto transfers are subject to Turkish travel-rule requirements, which may involve declaring information about the recipient. Customer support is available in Turkish by phone, chat and email, and has a good local reputation.
A note on taxes and records: Turkish rules on the taxation of crypto have been debated repeatedly and may change. Whatever the outcome, keep a full history of your trades and transfers. BtcTurk lets you download account statements, and having them to hand will make any future reporting requirement much easier to meet. The same records help if you ever need to show a bank where funds came from.
Who Is BtcTurk For?
BtcTurk suits Turkish residents who want a domestic, lira-based exchange with a professional trading platform and a wide choice of coins. Its long history, banking links and support are real advantages.
Users who are uneasy about the two hacks may prefer to use it mainly for conversion between lira and crypto and to store assets elsewhere.
BtcTurk Compared With Paribu and Binance TR
Paribu is BtcTurk's main domestic rival, with a simpler app and comparable lira volume. Binance TR offers access to the global group's liquidity in stablecoin pairs and low flat fees. BtcTurk has the longest record and the most developed professional platform of the three, and the weakest recent security history. Many Turkish traders hold accounts at two of them.
Practical Security Tips
- Use an authenticator app for two-factor authentication, not SMS.
- Be alert to calls and messages claiming to come from BtcTurk; data leaked in the past makes such scams convincing.
- Whitelist withdrawal addresses.
- Check the exchange's status page before sending crypto in or out.
Verdict on BtcTurk
BtcTurk is a cornerstone of the Turkish crypto market: established, liquid and operating under the new regulatory framework. It has protected customers financially through two serious hacks, and it still has to prove that its wallet security is now sound. Use it for what it does well, which is trading against the lira, and keep your savings in your own custody.