Founder of collapsed crypto exchange Thodex detained in Turkey

The saga of the Turkish cryptocurrency exchange Thodex continues, with the founder being finally brought back home in two years after the platform halted trading.

Faruk Fatih Ozer, founder and former CEO of Thodex, has been extradited from Albania to Turkey,

Ozer’s arrival in Turkey comes almost two years after the Thodex exchange abruptly halted trading and withdrawals amid reports of police raids at its offices on April 22, 2021. Local publications speculated that the suspension was part of an exit scam involving Ozer, who allegedly fled Turkey with at least $2 billion worth of cryptocurrency stolen from Thodex. Interpol subsequently issued a red notice for Ozer, who reportedly ran to Albania.

About a year after Thodex collapsed, the fugitive founder was arrested in Albania in August 2022. Additionally, Turkish police detained 62 people over talleged Thodex exit scam, also arresting some siblings of the then-missing CEO.

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