Founder of Turkish crypto exchange Thodex detained in Albania
The Turkish Ministry of Interior has announced the beginning of the extradition procedure for Faruk Fatih Ozer to Turkey
30.08.2022 - 14:35
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What’s new? The founder of the cryptocurrency exchange Thodex Faruk Fatih Ozer, who was on Interpol's international wanted list since 2021, has been detained in Albania, Anadolu writes, citing a Turkish Interior Ministry statement. The ministry reported about the beginning of the extradition process in Turkey.
The situation around Thodex. In 2021, investors filed a class action lawsuit against the Thodex exchange, accusing its founders of fraud. On April 21, all trading on the platform stopped. Initially, the company's website said that the activity of the exchange would resume in 5 days, but it never did.
According to the Turkish newspaper Demiroren, the CEO of Thodex flew to Albania on April 20 promising “to settle accounts with creditors soon.” Then, the Turkish Prosecutor's Office ordered the arrest of 78 people involved in the exchange. Later, 62 of them were detained.
In April 2022, Turkish prosecutors demanded life imprisonment for the founders and managers of Thodex. According to the materials of the investigation, the total damage from the exchange was $24 million.
Thodex is a Turkish cryptocurrency exchange, which was founded in 2017. The number of active users of the site was about 390 000 people. According to CoinGecko, as of the last day of operation on April 21, 2021, the daily trading volume on the exchange reached $744 million.
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