Thodex founder found dead in Turkish prison

Faruk Fatih Özer, founder and former CEO of the Turkish cryptocurrency exchange Thodex, was found dead in his solitary confinement cell in the high-security prison in Tekirdağ on November 2nd, according to local media reports.
Turkish authorities have launched an investigation into the circumstances of the death. Initial indications point to suicide.
The 29-year-old served a prison sentence of 11,196 years for forming a criminal organization, serious fraud and money laundering.
Thodex abruptly ceased operations in April 2021, causing losses for over 400,000 investors. According to the Financial Intelligence and Control Authority (MASAK), the total damage amounted to approximately 356 million lira (US$12.5 million).
After fleeing to Albania in 2021, Özer was arrested in August 2022 and extradited to Turkey in April 2023.
His siblings Guven and Serap Özer remain in prison. They were sentenced to identical terms.
The Thodex case is considered one of the biggest crypto fraud scandals in Turkish history and led to stricter regulation of the market.

Recommended video: Bitcoin sales: Was Germany really that “stupid”?

No results