Turkish Crypto Exchange Thodex CEO Faruk Özer Sentenced to 11,000 Years in Prison

In 2017, a man from Turkey named Faruk Fatih Özer, created a large crypto exchange company called Thodex. Thodex was one of the largest and most famous crypto exchange companies, and it was popular among the people of Turkey. People blindly trust this exchange and invest money in it for their future. This company was the first for the global exchange of cryptocurrency, and this was the reason it was popular and trusted by money people in Turkey. This company also created Bitcoin ATMs for easy transactions. When this company was established, its name was Koineks, but it was changed to Thodex in March 2020. This company offers 40 Cryptocurrency exchange options.

The people of Turkey were very pleased by the creation of this company and got ready to invest millions of dollars of their wealth in it. They trusted this company very much because it was the only company in Turkey that offered a global exchange of cryptocurrency. People invested great amounts of their wealth in this company and no doubt earned very well from it. The company owners consist of Faruk Fatih Özer, the founder of Thodex, his sister Serap Özer, and his brother Güven Özer. They all successfully gained the trust that this company is a lifetime earning platform for the people of Turkey, but nobody knows that they have very different plans for the company in the future.

After successfully working for a couple of years, Thodex suddenly went offline in April 2021, and the owners of the company went missing. At the time of freezing, the company had over 400,000 members who had invested in the company, and they were left with only dark and empty-handed.

The owner of the company fled to Albania to avoid legal action against him, as many people filed cases against him after the company’s closure. The total amount that the Thodex owner had in the form of investments was over $2 billion. Faruk Fatih Özer was arrested in August after an Interpol red notice was issued against him.

The creator of the defunct Turkish cryptocurrency exchange Thodex, Faruk Fatih zer, as well as his siblings Serap and Güven, have been given sentences totaling 11,196 years, 10 months, and 15 days in prison, according to the reports of the local media in Turkey. A judicial fine of about 135 million liras, which is approximately 5 million dollars, was also imposed on him for committing fraud with the people.