Turkish Police Detain 62 People in Thodex Probe, State News Agency Says: Report

The crypto exchange reportedly has been subject to a legal complaint by its users alleging that hundreds of millions of dollars had been stolen.

Apr 23, 2021 at 9:14 a.m. UTC
Updated Sep 14, 2021 at 12:45 p.m. UTC

Police in Turkey have detained 62 people in connection with criminal complaints filed against crypto exchange Thodex, according to reports citing government-controlled Anadolu Agency.

  • The Thodex crypto exchange went offline April 18 with its CEO subsequently going missing, fleeing the country according to reports.
  • Istanbul police said that Faruk Fatih Ozer had flown to the Albanian capital Tirana on Tuesday.
  • According to a report by Reuters, citing the Turkish state-controlled news agency, prosecutors have issued arrest warrants for 78 people with 62 detained so far.
  • Anadolu Agency reported Friday that Turkey’s Justice Ministry is seeking Interpol’s help in finding, detaining and returning Thodex’s CEO Faruk Fatih Ozer from Albania to Turkey.
  • The Thodex exchange, which has 400,000 members, announced it was undergoing maintenance April 18-19, subsequently telling users it would be offline for five days.
  • Users filed a complaint against the exchange Thursday alleging hundreds of millions of dollars had been stolen.
  • Cryptocurrency has been thriving in Turkey this year with people turning to it as a hedge against inflation, which had reached as high as 16% in March as oil prices spiked, according to Bloomberg.
  • The central bank announced April 16 that cryptocurrency was to be banned as a means of payment.

UPDATE (Apr. 23, 2021, 18:16 UTC): The article has been modified to include a new update on government action via Anadolu Agency.

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