Turkish police detain 62 over alleged $2B Thodex crypto exchange fraud

Turkish police detain 62 over alleged $2B Thodex crypto exchange fraud


Turkish police have detained 62 people as they continue to investigate an alleged exit scam potentially affecting 391,000 crypto exchange users and roughly $2 billion in investments. 

Yesterday, Cointelegraph reported that the major Turkish crypto exchange Thodex had abruptly halted trading and withdrawals amid reports of police raids. Today, in addition to the 62 already detained across eight Turkish provinces, police have issued detention warrants for a further 16 people, according to the Associated Press.

Istanbul’s chief prosecutor’s office yesterday announced it was opening a probe into the case following complaints from Thodex users who had lost access to their assets. Rumors have since been rife that Thodex owner Faruk Fatih Ozer has fled the country with the intent of defrauding users of their estimated $2 billion total in crypto. Whilst confirming that he had indeed left Turkey for Albania, according to AP, Ozer has denied all allegations and maintains he left for legitimate business-related reasons, ostensibly to meet foreign investors.

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Ozer has also

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