Yesterday, LOUDLABS reported that Thodex, a major Turkish cryptocurrency exchange, has suddenly suspended all trading on its exchange. More than 390,000 customers can no longer access their money and crypto.
Customers are furious, because they fear that this is a so-called exit scam. Several users have filed a complaint and the public prosecutor has now started a criminal investigation into the bitcoin (BTC) exchange.
Turkish police today arrested as many as 62 people allegedly involved in the scam. This is reported by Reuters news agency on April 23.
The police have also issued a further 16 arrest warrants. MASAK, the Turkish tax investigation service, has now frozen all the company’s accounts. It has also now been confirmed that the CEO has indeed left for Albania. The prosecutor is demanding his extradition.
The CEO, Faruk Fatih Özer, says he is in Albania for legitimate business reasons, such as meeting foreign investors. He claims this is a smear campaign, but that doesn’t make it any less suspicious.
The Turkish crypto exchange is said to hold anywhere from $ 2 to $ 10 billion worth of clients’ crypto. The timing of the incident is very striking, as Turkey recently decided to ban crypto payments.