TURKISH EXCHANGE BOSS MISSING

Local Turkish media reports say that Faruk Fatih Özer, Thodex’s founder, has flown to Albania, taking $108 million of investors’ funds with him. According to the state-run Anadolu Agency, Turkish authorities have now issued an international warrant seeking Ozer’s arrest.

Faruk Fatih Özer

A lawyer who filed a criminal complaint against Ozer said Thodex had 400,000 users, of which 390,000 were active. According to Anadolu Agency, Turkish authorities have now issued an international warrant seeking Ozer’s arrest.

Police have detained 62 people in eight cities including Istanbul, the state-run news agency said. An Anadolu Agency (AA) report said prosecutors issued detention warrants for 16 more people linked to the trading platform. Police raided the company’s headquarters on the Asian side of Istanbul and seized computers and digital materials.

In 2019, Canadian crypto exchange QuadrigaCX went bankrupt after its CEO died, resulting in millions of dollars’ worth of digital assets being trapped in a digital wallet. It seems that with every wallet lost, prices rise due to increased scarcity.

Given the unregulated nature of the whole digital coin sector its obvious that the rash of thefts and losses are a clear indication of the folly of Bitcoin et al. Greed is a sin and that comes as no surprise to see somebody take the money and run.