Turkish Crypto Exchange Freezes after CEO vanishes
Thodex a Turkish based Crypto Exchange went offline after the CEO fled the Country
ISTANBUL - On Thursday (April 22) Turkish prosecutors launched an investigation after the Istanbul-based Crypto Exchange halted trading, the founder Faruk Fatih Ozer reportedly fled with US$2 billion ($2.7 billion) in investors' assets.
About 400,000 users of a Turkish crypto exchange have filed a criminal complaint against its CEO.
Thodex CEO Faruk Fatih Ozer flew out of Istanbul on Wednesday.
The Turkish officials confirmed that Mr. Ozer fled the country but the location was undisclosed, though the local media reports state that he either flew to Albania or Thailand.
CCTV photo showing Thodex founder Faruk Fatih Ozer on passport control at Istanbul international airport - DHA
The Company went offline after it ran a campaign that sold Dogecoin(CRYPTO:DOGE) at one-fourth the price at which they were trading on other exchanges.
As the investors FOMO'ed the Company locked their investments and they couldn't sell nor to convert it.
One of the Investors took his claims to twitter,
“Hundreds of thousands of users cannot get access to wallets holding their crypto assets or cash,” investors’ lawyer Oguz Evren Kilic said.
“We have started the legal procedures and lodged a complaint at the prosecutor’s office,” he added. Source: DHA news agency.
Turkey only last week banned the use of cryptocurrencies effective April 30, saying they may cause non-recoverable losses for parties involved. Under new rules, citizens can still hold crypto, but can't use it to make payments towards goods and services.
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