Boss Of Turkish Crypto Company Arrested In Albania Fatih Ozer, founder of crypto firm Thodex, a cryptocurrency exchange based in Turkey, has been detained in Albania by Interpol, Turkey’s General Directorate of Security said.
The Turkish Interior Ministry said Ozer had been detained following his escape in 2021 with funds embezzled from 400,000 customers.
The extradition with Albania is successful and CEO of the crypto exchange Thodex will be charged with fraud the formation of a criminal organization.
Embezzle User Funds, Thodex Crypto Company Boss Has Been Arrested
Ozer will face a fierce legal battle with Turkish prosecutors seeking a prison sentence of up to 40,000 years.
for the CEO of the inactive cryptocurrency exchange.
According to the Boss Of Turkish Crypto Company Arrested In Albania Interior Ministry Ozer’s identity was traced with the of biometric scans after Ozer’s data was added to the international wanted list.
Crypto Trading Platforms In Turkey
Finbold reported that Ozer was accused of escaping funds worth US$2.7 billion equivalent to Rp40.1 trillion from Thodex customers in April 2021. At that time, Thodex was one of the largest crypto trading platforms in Turkey.
The embezzlement of funds was The Old Date of These Stocks Love Cuan Big carried out when Bitcoin (BTC) and the crypto asset market were experiencing is bull run and BTC had reached all time high value of more than US $ 60,000.
Prior to Ozer’s disappearance Thodex suspended the withdrawal of customer funds without providing complete information about status clarity.
He claims his company was forced to stop trading because of the cyber attack but insists customer funds are safe. He promised to return the funds to the investors quickly.
Thodex lures retail investors with the lure of luxury car prizes through and advertising campaign featuring well known Turkish models The crypto company and sent a message that it would take their side five days to deal with the outside investment.
The Thodex CEO
Ozer’s disappearance is accompanied by controversy over the appearance of the photo of the Thodex CEO with the Minister. Of Home Affairs, Suleyman Soylu, and the Minister of Foreign Affairs, Mevlut Cavusoglu.
The officials deny knowing the fugitive personally or professionally. The Very Fundamentals Of Bitcoin
The Turkish Government Raised
Following the controversy, the Turkish government raised its warnings against risks associated with crypto assets. The government ensures that it will tighten supervision of this sector.
The embezzlement of funds by crypto company Thodex is the biggest rug pull or fraud in 2021. The total loss due to fraud last year reached US$2.8 billion.