Thodex

Turkey Arrests 62 People Over Thodex Fiasco

As the Turkish authorities speed up their crackdown on local crypto exchange Thodex, which has been accused of fraud, they have now arrested as many as 62 people on Friday.

Turkey’s state-controlled news agency Anadolu reported that the prosecutors issued arrest warrants for more than 78 people, who were thought to be linked to the digital assets’ exchange.

So far, the police officials have detained nearly 63 individuals. The Turkish law enforcement started investigating the platform after a lawyer filed a case against the platform’s founder, alleging him of fraudulent activities.

Abdullah Usame Ceran, the lawyer who filed the case, maintained that the exchange founder had fled the Eurasian country, allegedly with millions of dollars that he made from fraudulent activities. Meanwhile, the Turkish police officials maintained that Thodex’s founder Fatih Faruk Oze has fled to Albania.

Earlier this week, in a surprising move, the Turkish crypto platform stopped trading on its platform. Initially, the company maintained that the exchange was down to facilitate the international clients and added that it would remain close for five working days.

On the other hand, thousands of users have been unable to access their accounts or withdraw funds, outcrying that they have been scammed. In response to the concerns raised by the consumers, the Turkish financial watchdog has seized Thodex’s bank accounts.

While talking to Bloomberg, Ozer said that he thought of handing himself to the law enforcement or “suicide.” He said, “The day I repay all my debt, I will return to my country and give myself into justice.”

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