- Turkish crypto exchange Thodex has stopped functioning.
- Six aspects of Thodex jailed by the Turkish court.
- Officially banning of crypto payments effective by the country’s central bank.
The Turkish court has jailed the six suspects of the Turkish crypto exchange Thodex.
Thodex is the cryptocurrency exchange based in Turkey which rebranded itself from its earlier version Korinek. Thodex is only used for Turkish investors and not any other country investors.
Last week, the Turkish crypto exchange Thodex stopped functioning without any intimation. The authorities of Turkish are going with an investigation on local cryptocurrency exchange Thodex.
Turkish Court Jailed Six Suspects
The siblings of the missing CEO and senior company employees including the six suspects are jailed by the Turkish court. The Thodex CEO and founder Interpol reportedly issued a red notice who had a flow to Albania.
The interior minister said,
”When he is caught with the red notice, we have extradition agreements with a large part of these countries. God willing, he will be caught, and he will be returned “
Some aspects indicate the Ozer’s siblings Guven Ozer and Serap Ozer could be involved in major roles in Thodex’s operations, both having significant crypto holdings.
Guven Ozer on two major local crypto exchanges which include BtcTurk and Paribus hold nearly $2.7 million. As an active executive Guven Ozer served at Thodex despite not having an official role at that company.
Moreover, the missing CEO’s sister Serap Ozer, on her Binance account between 2018 and 2021 had over $14.6 million worth of crypto transactions. But Serap claimed that the account was not hers and she supposedly oversaw financial activities at Thodex.
However, as previously noted that the Thodex CEO run off with $2 billion worth of crypto. But according to the latest reports and news, the interior minister said that the company’s investment is around $108 million.
Furthermore, the Turkish government hardens its point of view on crypto, the official banning of crypto payments effective by the country’s central bank. Vebitcoin, another Turkish crypto exchange, will be easing operations amid employee arrests and allegations of scams announced last week.