Ankara, Europe Brief News – Turkish crypto Thodex exchange has become a hot topic recently. Istanbul’s prosecutor’s office in Turkey is asking for more than 4,000 years in prison for the people associated with Thodex. There are about 21 defendants that are in charge of a scam worth 365 million Turkish Lira ($24 million).
The scam happened through the Thodex cryptocurrency exchange. Interestingly a month back the founder of the company went missing. During this time the official website of Thodex was down and no one could access it. The founder of this company is now becoming a part of Interpol’s red broadcast.
According to Thodex exchange news, prosecutors are pleading more than 40,000 years for 21 defendants. One of the members of Thodex CEO Faruk Fatih Ozer is 28 years old. The CEO is missing since last year and it is not sure what he is up to.
Turkey Seeks up to 40,000 Years Jail Time for Thodex Exchange Defendants
Faruk Fatih Ozer is the founder and chief executive of the Thodex crypto exchange. Apart from him, 20 other people are involved in the crypto scam. The Turkish prosecutor is pleading for 40,000 years of jail time for the CEO and other defendants.
Still at large, the CEO of Turkey’s #Thodex #crypto exchange could serve life in prison for suspected exit #scam, according to prosecutor. https://t.co/U3VPADbSyH
— Bitcoin News (@BTCTN) April 3, 2022
Turkish Exchange Thodex is a big platform and these people are involved in establishing a criminal organization. They are involved in big fraud and money laundering from these illegal activities.
Thodex is operating in Turkey since 2017 and thousands of Turks have invested in this crypto platform. As the economy of the country faces inflation the value of the Turkish lira becomes shaky too. Last year in March the number of customers on this platform has seen a rise. Thodex rug pull and other marketing campaigns promised to reward every new person with 150 DOGE.
During this incident, all the media reports indicate that the crypto exchange has around 391,000 users. They all went through a big scam and couldn’t access their funds. It did panic them and they didn’t know what to do. Another report suggests that the damage to the customers of this platform is very intense.
The CEO of Thodex Exchange soon deleted all his traces from social media. However, at the time of the scam, he promised to reimburse all the investors. He will have to return to Turkey to face these charges. Other 20 defendants including him will be charged with criminal charges. The charges also include wire fraud and money laundering.
