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News Explorer — Thodex CEO Gets 11,000-Year Sentence Over $2 Billion Crypto Exchange Collapse

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Sep 8, 6:58 am
Coindesk

Thodex CEO Gets 11,000-Year Sentence Over $2 Billion Crypto Exchange Collapse

Faruk Fatih Özer, the founder of Thodex, along with his sister and brother, has been sentenced to over 11,000 years in prison and fined 135 million liras for their involvement in the collapse of the Turkish crypto exchange. Thodex, once one of Turkey's largest exchanges, went offline in April 2021, leaving over 400,000 members unable to access their deposits of $2 billion in cryptocurrencies. Özer, who had fled to Albania, was arrested in August 2022 and extradited to Turkey in April 2023.

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