According to Cointelegraph, Faruk Fatih Özer, the former CEO of Turkish cryptocurrency exchange Thodex, was found dead in prison on November 1, with preliminary investigations suggesting a possible suicide. Ozer was sentenced to 11,196 years in prison in 2023 for orchestrating a $2 billion cryptocurrency exit scam.
In April 2021, Thodex abruptly shut down trading and withdrawal functions, and Ozel subsequently absconded overseas. After more than a year of manhunt, he was arrested in Albania in August 2022 and extradited to Turkey in April 2023. The case has prompted the Turkish government to tighten regulation of the cryptocurrency industry, including a ban on crypto payments and the implementation of new investor protections, indirectly driving the growth of local cryptocurrency adoption and trading activity.
Former CEO of Turkish crypto exchange Thodex dies in prison, sentenced to 11,000 years for 2 billion dollar scam
2025-11-08 14:57:30
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