Posted 9/8/2023, 7:14:00 AM
Thodex Crypto Founder Sentenced to Over 11,000 Years for $2B Fraud
- Faruk Özer, founder of collapsed Turkish crypto exchange Thodex, sentenced to over 11,000 years in prison along with siblings
- Thodex went offline in April 2021 with over $2B in customer crypto deposits missing; Özer fled to Albania
- Özer arrested in August 2022 after Interpol red notice, extradited to Turkey in April 2023
- Faced charges including fraud, money laundering; trial had 21 defendants, most acquitted
- Thodex was one of Turkey's largest crypto exchanges before collapse; left 400K+ members without access to funds
