Six imprisoned in connection to Turkey crypto exchange fraud

Crypto exchange

TL;DR Breakdown

  • Six imprisoned in aftermath of Thordex exchange heist
  • Turkey deploy hunt team to arrest absconding Thordex exchange CEO

Six people have been found guilty and subsequently jailed for their role in the Thordex crypto exchange heist, a Turkish crypto firm that committed an exit scam and absconded with users found worth several U.S. billion dollars.

Thordex exchange, whose CEO, Faruk Fatih Ozer, eloped and still at large, was alleged of taking advantage of users of the platform trust and running away with funds deposited in the exchange.

The brother and the sister of the company’s CEO, who reportedly escaped with $2 billion, were among the six people jailed after a trial against them.

Thordex crypto exchange heist and its aftermath

The $2 billion crypto scandal in Turkey has become one of the hottest topics in the country.

Authorities in Turkey remain adamant that the exchange CEO has scammed users with the sizeable amount of funds he absconded with.

According to Reuters, the spokeswoman for Istanbul’s Anadolu prosecutor’s office informed that six people were sent to prison accused of being part of Thodex and its criminal affairs.

She also noted that some of the other 83 suspects arrested in connection with the fraud have been put in detention, and some have been released.

Thordex heist was followed by Vebitcoin, another crypto exchange in the country scamming users similar to Thordex move.

The fraud by both exchanges has led authorities in Turkey to propose stricter regulation for operation of crypto firms in the European country.

Cryptopolitan reports that authorities are planning to establish a central bank authority that could oversee and be in charge of the digital assets operating in crypto exchanges in the country.

Turkey hunt for Thordex CEO

At least 83 people were detained over the past week in connection with the heist.

Upon Turkey’s request, Interpol issued a red notice for Thodex chief executive and founder Faruk Fatih Ozer, who had flown to Albania before news of the problems surfaced.

Rumors have it that the CEO promised to return and face justice. However, Ozer has not specified a precise date when he plans to do it.

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