Finally, Thodex Founder Detained In Turkey

Thodex crypto exchange’s main exit scammer is finally detained by the Turkish authorities in Turkey. 

Thodex was one of the top crypto exchanges in Turkey. In April 2021, Thodex exchange suspended its services and assured customers that it will be back soon, after the completion of some work citing unspecified partnership. In a short time, Thodex founder & some other senior employees allegedly deleted & deactivated all social media accounts and Thodex founder Faruk Fatih Ozer disappeared with $2.6 billion worth of crypto funds leaving around 400K users high and dry. 

Now after 2 years, the Thodex founder has been detained in his native country Turkey.

So far, 6 people have been jailed in the Thodex crypto exchange scam. 2 of these people are siblings of the Thodex founder and the other 4 are senior employees.

The Turkish authorities also detained 62 people linked with the Thodex crypto exchange exit scam and the whole investigation is going on to solve the case & find out the main reason behind the whole scam. 

Turkey & Crypto

Crypto trading is not illegal in Turkey but under the country’s central Bank measures Crypto use in payment services is fully prohibited & illegal. 

In Jan & Feb of this year, Turkey faced several earthquake shocks and in those earthquakes, many people lost their homes & lives. 

Several crypto companies jumped to donate fiat & crypto assets to Turkey’s government agencies to rescue the earthquake victims.

Under the leadership of Haluk Levent, a popular Turkish singer, the Turkish government welcomed the crypto users to donate funds,  which was against the country’s law but it was more important for the citizen’s life. 

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