62 detained in Turkey a day after alleged $2 billion crypto ‘exit scam’

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.

An edge in the cryptocurrency market

Get access to more cryptographic insights and context in every article as a paid Edge member.

Chain Analysis

Price overview

More context

Join now for $19 a month Discover all the benefits

Do you like what you see? Subscribe to updates.

Related Tags:

new cryptocurrencycryptocurrency pricesbitcoin news todayis bitcoin safe,People also search for,Privacy settings,How Search works,new cryptocurrency,cryptocurrency prices,bitcoin news today,is bitcoin safe

Recent Articles

How to Buy Everex (EVX) | Step By Step Guide 2018

Everex is a platform that aims to bring the benefits of blockchain technology to emerging markets. With its own cryptocurrency, EVX, Everex allows users...

Visa and Worldpay Take Blame for Erroneous Charges on Coinbase

A recent report from the Wall Street Journal revealed that two of the largest payment processors, Visa and Worldpay, were responsible for erroneously charging...

Conflux Network Price Prediction – How Much Will CFX Be Worth in 2021?

Conflux has a bright future ahead of it. With the release of their new platform and the upcoming changes, we believe that this coin...

How Long Does it Take to Mine a Bitcoin?

Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. Mining is...

Siacoin Price Prediction for 2020, 2022, & 2025 – Crpyto Coin Society

Siacoin is a decentralized storage platform. The company’s goal is to provide a decentralized cloud storage network, which will allow users to store and...

Related Stories