Thodex Founder Found Dead in Prison Amidst Crypto Scandal Fallout

Faruk Fatih Ozer, the disgraced founder of collapsed Turkish cryptocurrency exchange Thodex, has been found dead in his prison cell while serving an 11,196-year sentence. The former CEO was convicted in 2023 of orchestrating one of Turkey's most devastating crypto frauds, which vaporized $2.6 billion in customer assets.

Authorities discovered Ozer's body in the bathroom of his solitary confinement cell at Tekirdağ F-Type High Security Prison. Preliminary investigations suggest suicide, though Justice Minister Yılmaz Tunç confirmed the case remains under active investigation. The death marks a dark epilogue to a scheme that exposed critical weaknesses in Turkey's unregulated digital asset markets.

Thodex's 2021 collapse saw 400,000 users lose access to funds overnight, triggering international manhunts for Ozer and his siblings. After fleeing to Albania, Ozer made hollow promises about debt repayment before being extradited to face justice. The Istanbul court's landmark conviction last year represented a rare moment of accountability in crypto's wild west era.