Thodex Founder Found Dead in Prison Amidst Crypto Scandal
Faruk Fatih Ozer, the founder of collapsed Turkish crypto exchange Thodex, was discovered dead in his prison cell while serving an 11,196-year sentence. Authorities suspect suicide as the cause of death, marking a grim end to one of Türkiye's most notorious financial fraud cases.
The Thodex scandal, involving the disappearance of over $12.5 million in investor funds, has significantly influenced Türkiye's increasingly strict regulatory approach to cryptocurrency. Ozer's conviction on charges including aggravated fraud and money laundering had set a precedent in the country's legal treatment of crypto-related crimes.
Founded in 2017, Thodex was once a leading Turkish exchange before its abrupt shutdown in April 2021. The platform's collapse and subsequent legal proceedings have become a cautionary tale in the global cryptocurrency landscape.
