Thodex CEO Found Dead in Prison Amid Ongoing Scrutiny of $2.6B Crypto Collapse
Faruk Fatih Ozer, founder of the defunct Turkish cryptocurrency exchange Thodex, was discovered dead in his prison cell in Tekirdag. Authorities are investigating the possibility of suicide. The incident revives attention on one of crypto's most notorious exit scams.
Ozer had been serving an 11,196-year sentence for fraud, money laundering, and leading a criminal organization. The unprecedented prison term reflected the scale of harm to victims of the 2021 collapse, which Chainalysis estimates cost investors $2.6 billion.
Discrepancies in loss estimates persist - from initial prosecutor claims of $24 million to Turkish media reports approaching $2 billion. The case remains a cautionary tale about unregulated crypto platforms and their potential for abuse.
