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Turkish cryptocurrency founder flees with reported $2 bn
Thursday April 22 2021
A screen grab made from a CCTV released by Demiroren News Agency on April 22,2021 shows Thodex founder Faruk Fatih Ozer on passport control at Istanbul international airport. Turkish prosecutors on April 22, 2021, opened an investigation after the Istanbul-based founder of a cryptocurrency exchange shut down his site and fled the country with a reported $2 billion in investors assets. PHOTO/AFP
Summary
Reports said the website and the entire exchange had shut down while holding at least $2 billion from 391,000 investors.
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Turkish prosecutors on Thursday opened an investigation after the Istanbul-based founder of a cryptocurrency exchange shut down his site and fled the country with a reported $2 billion in investors assets.
Turks Suspect Big Crypto Losses as Exchange CEO Flees Abroad
Bloomberg 23 mins ago
(Bloomberg)
The Turkish crypto exchange Thodex ceased operations and its chief executive officer has fled the nation amid allegations that hundreds of millions of dollars were stolen.
A prosecutor in Istanbul has launched an investigation and police are searching the Thodex offices, the state-run Anadolu Agency reported. The trading platform is “unable” to continue operations with founder and CEO Faruk Fatih Ozer out of the country, the company said in a written statement earlier Thursday.
While not the largest Turkish crypto exchange, the shuttering of the platform has left the remaining assets of about 390,000 active users “irretrievable,” according to Oguz Evren Kilic, who represents an unspecified number of Thodex users and has filed a legal complaint on their behalf.
Prosecutors in Istanbul launched an investigation against the cryptocurrency exchange Thodex on Thursday, following allegations that its website shut down Wednesday and Ozer fled the nation with
ANKARA (Reuters) - Police searched the headquarters of a cryptocurrency trading platform provider in Istanbul on Thursday, after thousands of Turks filed criminal complaints against the company saying they had been scammed and were unable to access their accounts.
The Thodex cryptocurrency trading platform, which had been handling daily cryptocurrency trade worth hundreds of millions of dollars, said on its website on Thursday it would be closed for four to five days due to a sale process.
But users who have not been able to withdraw money or access their accounts voiced concern on Twitter that they may have been defrauded, in comments widely picked up by Turkish media.