Faruk Fatih Ozer, the Founder of Turkish crypto exchange Thodex that collapsed in 2021, was recently sentenced to 11,196 years in prison by an Istanbul court. Along with his two brothers, Ozer was sentenced in relation to fraud, money laundering, and heading a criminal organization.
Before its collapse, Thodex was the largest crypto exchange in Turkey before forcibly halting their trading services in April 2021, resulting in 400,000 users losing their funds. Ozer then reportedly fled the country, but was extradited back to Turkey earlier this year.
Since the court case in April 2022, the total estimated loss caused by Thodex is estimated to be around $24 Million USD, although Chainalysis estimates the loss to be around $25.2 Million USD. This makes Thodex represent 90% of the total losses from rug pull cases in 2021 worldwide.
More News About Crypto : NEWS
Follow our Twitter : https://twitter.com/DinoDapps
