During an ongoing investigation of fraud over Turkey’s local crypto exchange named Thodex, Police arrested 62 people who were claimed to be part of the fraud. The news came out in the market immediately after few reported complaints by the customers on which Police came into motion, and it detained a total of 62 people in a bid to investigate them.
As the crypto industry is flourishing day by day around the globe, so is the number of scams and frauds as well. The market is flooded with a number of exchanges and brokers, along with the scammers as well who are always looking for the opportunity to get money by deceiving the people. The order of arrest warrant for 78 people who were involved in the fraud over Turkey’s well-known crypto exchange, which goes by the name of Thodex, has been issued as well. Although 62 people have been detained till now from eight different provinces, 16 scammers are still out there in the market.
The investigation was launched on Thursday immediately after the illegal objections were raised against Fatih Faruk Ozer, the founder of Thodex. Allegations were made by the local lawyer of Turkey named Abdullah Ceran, who called Thodex “aggravated fraud.” Moreover, Ceran harshly criticized the Ozer’s flee to Albania after the reported scam as billions of dollars of the clients are at stake and stolen in this scam. It is being observed that Thodex is suffering its fall since the news spread out in the market, and Ceran also mentioned that more than 390,000 active traders got affected due to this move.
Due to the prevailing situation, Thodex is being affected badly, and all of its trading operations are currently inactive after the allegations. The exchange has been closed for the coming five working days or till the issue remains unsolved. This has affected the customers badly as they are even unable to withdraw their funds as MASAK has also blocked the bank accounts of the Thodex exchange.
Fatih Faruk Ozer, before he fled out of the country, had thought to give up and hand over himself to Turkish police, but doing so would result in total loss of the amount. So to cope with the situation, Ozer fled away to take some time as he is a man of words and declared that he will pay the debt and will return and give himself to the authorities if the case remains unsolved.