Faruk Fatih Özer, the founder of Thodex – one of the largest crypto exchanges in Turkey – has been extradited to Turkey to face charges of fraud and operating a criminal organization. Özer disappeared with $2.6 billion worth of crypto funds leaving around 400K users stranded in what turned out to be an exit scam. Upon arrival in Istanbul, the 27-year-old founder was detained by police, according to the latest report by state media.
In April 2021, Thodex halted all transactions citing an evaluation of an unspecified partnership offer. While its official website promised a quick return, the executives deactivated their social media profiles and customer support group became inaccessible. The founder and CEO, Faruk Fatih Özer, also shut down his Twitter account and reportedly fled to Albania. Sources suggest he stayed undercover for over a year before law enforcement agents in Elbasan detected his location and arrested him.
- Interpol issued a Red Notice against Özer for his capture.
- A Turkish court jailed six people, including two siblings of the CEO, a month after the scandal. The remaining four were senior employees of the company.
- The authorities detained 62 people associated with the Thodex exit scam.
— İŞTE GÜNDEM (@istegundemcom) April 20, 2023