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- Charges levels on the six include creating an organization to engage in criminal activity and fraud by using information systems, banks, and credit institutions as a tool.
- Bitcoin accounted for 1.73% of Thodex’s total volume at the time, more than $10 million worth.
- Upon Turkey’s request, Interpol issued a red notice for Thodex chief executive and founder Faruk Fatih Ozer, who has allegedly fled to Albania.
Six suspects have been arrested and jailed in Turkey as part of an ongoing investigation into cryptocurrency exchange platform Thodex. Guven Ozer and Serap Ozer, the brother and sister of Faruk Fatih Ozer, who is the founder of Thodex and senior company employees, are among those arrested.
Charges levels on the six include creating an organization to engage in criminal activity and fraud by using information systems, banks, and credit institutions as a tool. As part of the probe, over 83 people have been detained in the past week as users of Thodex said the company scammed them and blocked access to accounts and money withdrawals.
As per reports, Bitcoin accounted for 1.73% of Thodex’s total volume at the time, more than $10 million worth. Ozer cited liquidity problems, a years-old hacking incident, and the inability to transfer shares to an outside investor because of the apparent exit scam.
A wider search
Upon Turkey’s request, Interpol issued a red notice for Thodex chief executive and founder Faruk Fatih Ozer, who had allegedly fled to Albania even before the news surfaced. Interior Minister Suleyman Soylu said that Turkey had sent units to four countries to search for Ozer, including Albania, this week.
Soylu, in a televised interview with broadcaster NTV, said when Ozer is caught with the red notice, they have extradition agreements with a large part of these countries.
Turkish authorities take action
On Monday, authorities jailed four people pending trial due to an investigation into Vebitcoin, another cryptocurrency trading platform.
Last month, Turkey announced a ban on the use of crypto assets, with the central bank citing irreparable damage and transaction risks as reasons for the ban. But experts believe an outright ban of cryptocurrency such as Bitcoin is impossible. However, the government can make it difficult for citizens to leverage, particularly by instituting restrictions on payment services and bitcoin exchanges.
Moreover, the Turkish government is reportedly exploring the idea of establishing a central custodian bank for cryptocurrency exchanges following the Thodex scam and local cryptocurrency exchange Vebitcoin.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
