CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,092.00
  • ethereum
    ETH$1,579.52
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Notorious Turkish Crypto Boss Arrested in Albania

    Notorious Turkish Crypto Boss Arrested in Albania

    Author: Dimitar Dzhondzhorov

    Last Updated Aug 31, 2022 @ 07:49

    After over a year of hiding, Thodex’s boss – Faruk Fatih Ozer – was finally arrested in Albania.

    The Albanian authorities arrested Faruk Fatih Ozer – the CEO of the Turkish cryptocurrency exchange Thodex – in the city of Elbasan. Last year, the platform ceased trading and withdrawals, while the 28-year-old executive was rumored to have left Turkey with $2 billion in users’ funds.

    Despite not managing to detect Ozer’s whereabouts, Turkish law enforcement agents jailed six other individuals connected to the fraud. Two of those were the brother and the sister of the CEO.

    Justice at Last

    Faruk Ozer and his troubled crypto exchange Thodex made the headlines last year. The halting of all trading services and the consecutive shutdown of the website caused significant losses for thousands of Turkish investors.

    The case prompted local authorities to organize an investigation and detain all individuals responsible for the collapse. Over the course of their operation, they arrested 62 people related to the scam, while later, they sent six of them to prison. Interestingly, two of the criminals were Faruk Ozer’s brother and sister.

    However, the head of Thodex managed to escape the long arm of the law. Multiple reports indicated that he left his homeland with $2 billion in users’ funds.

    ADVERTISEMENT

    On August 30th, Ozer was arrested in the Albanian city of Elbasan. Prosecutor Kreshnik Ajazi said he will be held in custody until he faces a court hearing in the coming days. Shortly after, the Albanian and the Turkish authorities will cooperate on his extradition.

    It remains unknown what punishment Ozer will face. However, it could be quite severe since he obtained an Interpol “red notice” for his escape, while his fraudulent scheme ranks among the largest-ever financial scams in Turkey’s history.

    Turkey and Crypto

    The record inflation, the depreciating Turkish lira, and the political tension, among other issues, prompted users to allocate some of their savings to cryptocurrencies, more specifically Bitcoin (BTC) and the stablecoin Tether (USDT).

    For its part, the government contemplated applying additional control over the local digital asset market. Specifically, they insisted that exchanges should have a minimum of 100 million liras ($6.1 million) in capital to operate on domestic soil.

    The authorities are also in favor of imposing taxes on cryptocurrency transactions. As of the moment, they have not disclosed when this step will be enforced and what the tax percentage will be.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • Rug_Pull_2
      Polygon-Based Dragoma Rug Pulled, DMA Dumps 99%
    • Rainbow
      The LGBTQIA+ Community Must Beware for Crypto Scams, US Authorities Warn
    • Javier_Milei
      Argentina Presidential Candidate Sued for Promoting a Crypto Ponzi Scheme
    Tags: Crypto Scams Turkey
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

  • bitcoin
    BTC$23,092.00
  • ethereum
    ETH$1,579.52
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!