HomeNewsCEO of Turkish Crypto Exchange ‘Thodex’ Arrested

CEO of Turkish Crypto Exchange ‘Thodex’ Arrested


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CEO of Turkish Crypto Exchange ‘Thodex’ Arrested
PHOTO CREDIT: bitcoinist.com

The Turkish Minister of the Interior launched that the founder of the crypto alternate Thodex used to be arrested in Albania at this time. Faruk Fatih Özer used to be arrested after allegedly defrauding thousands of possibilities.

The founder of Turkish cryptocurrency alternate Thodex has been apprehended in Albania following his disappearance in 2021 with the funds of roughly 400,00 customers. Özer now faces extradition to Turkey after the direction used to be initiated by Interpol. Thodex used to be one of Turkey’s largest crypto exchanges earlier than it halted trading in April 2021, costing nearly 400,000 customers to lose funds. The CEO now faces a cosmopolitan correct form of conflict with prosecutors in quest of detention center sentences totaling 40,564 years.

Sooner than it went darkish, the alternate lured merchants by pledging to distribute luxurious vehicles thru an advertising campaign that contains valuable Turkish fashions. The alternate has been in operation since 2017 nonetheless halted trading in April ultimate one year, citing an unspecified exterior funding that necessitated a 5-day termination in trading.

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Handiest a day later, Özer claimed that the corporate used to be compelled to cease trading attributable to cyberattacks nonetheless insisted buyer funds were earned and promised to come abet money to merchants rapidly. On an identical day, Turkish authorities detained 62 of us, iced up the corporate accounts, and seized computers.

By then,  Özer had already fled to Albania. Following a manhunt spanning various months, the former CEO used to be discovered within the city of Vlorë. His identity used to be confirmed utilizing biometric results.

The Thodex exit rip-off used to be ranked as the biggest rug pull in 2021, accounting for an indispensable share of the $2.8 billion lost thru scams ultimate one year. In April 2021, files emerged that the alternate transferred $125 million in Bitcoin to the alternate Kraken earlier than it closed.

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