A man tricked people out of tens of millions of dollars with a seemingly harmless farming game. Mehmet Aydın targeted residents of Turkey with a mobile game called Farm Bank, or Çiftlik Bank in Turkish. The game allowed players to buy virtual livestock and upgrades to grow their farms.
The app appeared to be a typical mobile game, where users spent in-game currency to make purchases and could also buy more currency with real money. These small microtransactions could add up substantially.
However, Farm Bank went beyond this standard model. The game featured a function where players could earn gold bars, which they could then withdraw as real currency. Additionally, it promised users the opportunity to invest in ‘real’ livestock.
Çiftlik bank kurup milleti dolandıracak kabiliyeti varken, gitmiş belediye başkanı olmuş. pic.twitter.com/LjLf7cEjgX
— FuNDaMeNTaLiST (@FuNDaaMeNTaLiST) May 9, 2024
A YouTuber known as @fern-tv looked into the app and shared their findings on social media. They explained, “You can invest in virtual livestock, which is automatically linked to real farms. The actual production from these animals is then sold in dedicated farm shops.”
At the time of the game’s release, Turkey’s agricultural sector was facing significant issues. Many people were drawn to the game, hoping it might help revive the struggling industry.
However, it was later revealed that the entire app was a massive scam. By 2017, around $250 million had been invested in the app, and users began to experience difficulties withdrawing their money.
A major development occurred at the end of 2017. Fern reported, “In December 2017, Aydın suddenly sold his shares in the company. A month later, Çiftlik Bank halted new user registrations and stopped paying out profits.”
In March 2018, authorities confirmed the app was a scam. This led to an international manhunt after Aydın fled the country. He was eventually found hiding in São Paulo, Brazil, in 2021, three years after the scandal surfaced.
Aydın was arrested and extradited back to Turkey, where he now faces a potential sentence of 89,000 years in prison.
Frequently Asked Questions
Here are some common questions asked about this news
What was the Farm Bank app?
Farm Bank was a mobile game where users could buy virtual livestock and invest in ‘real’ livestock.
How did people get scammed by Farm Bank?
People invested money in virtual and ‘real’ livestock but couldn’t withdraw their money, revealing a scam.
How much money was invested in Farm Bank?
Approximately $250 million was invested in the app before users noticed withdrawal issues.
When did authorities confirm Farm Bank was a scam?
Authorities confirmed the scam in March 2018.
What happened to Mehmet Aydın?
Aydın was caught in Brazil in 2021, extradited to Turkey, and faces up to 89,000 years in prison.