Turkish police have arrested 62 people in eight provinces as part of a long-running investigation into local cryptocurrency exchange Thodex, the Associated Press reported today.
On Wednesday, multiple reports indicated that Thodex, which held between $2 billion and $10 billion in user cryptocurrencies, had suddenly ceased all operations. This caused panic among local traders who could no longer access their digital assets.
Later in the day, the exchange issued an official statement informing that it was forced to suspend trading for 4-5 days for maintenance reasons related to undisclosed investments. However, Oguz’s lawyer, Evren Kilic, suggested that it could be a scam.
He filed a complaint with the prosecutor’s office, but warned that the legal process could take years.
Can we call this a Turkish incident at Mount Gox?” he tweeted.
Eğer milyarlarca Dolar değerinde #kripto #para kaybolursa ve sonra bunlar satılmak istenirse, bu işin küresel piyasalara etkisi ne olabilir?
Buna ber Türk gora Goks Olayi diebilir miiz ?
– Av. Oguz Evren Kylych (@UlgenKhan) April 21, 2021
Meanwhile, Faruk Fatih Ozer, the 27-year-old owner of Todex, reportedly left Turkey earlier this week. Todex’s lawyer, Bedirhan Oguz Basibuyuk, also said the bourse had recently experienced liquidity problems.
Todex assets have declined. When too many users demanded their money back, the company could no longer accommodate them, he said.
As the situation developed, Ozer issued a new statement on the Thodex website, this time claiming that the exchange had been the victim of a cyber attack and a smear campaign. The Thodex board chairman also stated that he had considered committing suicide or surrendering to the authorities, but had ultimately decided to return to Turkey.
Beklenen achiklama geldi.
Uzun, zorlu bir süreç başlıyor. https://t.co/EOGB48lrFt.
– Av. Oguz Evren Kylych (@UlgenKhan) April 22, 2021
So I decided to stay alive and fight, work and pay my debt to you. The day I have paid all my debts, I will return to my country and hand myself over to the judiciary, Özer wrote.
According to the AP report, Turkish prosecutors have issued arrest warrants against 16 people, in addition to the 62 already in custody, suspected of having ties to Todex.
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