Finst

11,000 years in prison: Turkish crypto-CEO behind bars.

Thodex was the largest crypto-exchange in Turkey.

By Finst News
• 2 min read
11,000 years in prison: Turkish crypto-CEO behind bars.

Thodex was the largest crypto-exchange in Turkey. Until its founder disappeared without a trace - taking all the platform's money with him.

Faruk Özer, founder and CEO of what was once the largest crypto exchange in Turkey, was sentenced to 11.196 years in prison along with his sister Serap Özer and brother Güven Özer. They were also fined 135 million lira (about $5 million). This was reported by local media.

About a year ago, the Turkish Interior Ministry announced that Özer was in Albania "apprehended and that his identity had been confirmed through biometric data (fingerprints)". Interpol then arranged for the extradition of the 29-year-old to Turkey.

View post on X

The founder of Thodex faces charges including money laundering, fraud and setting up a criminal organization. In 2021, Thodex had about 400,000 users before the website was suddenly taken offline due to alleged cyber attacks. At that point, Özer allegedly disappeared - and with him more than $2 billion in customer funds.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.