Dozens Arrested After CEO Of Turkish Crypto Exchange Flees With $2 Billion

Turkish authorities have detained 62 people over alleged links to the Istanbul-based cryptocurrency exchange Thodex after its founder fled with a reported $2 billion in investors' assets, Turkish media reported. The suspects were apprehended in raids carried out in eight cities including Istanbul, Anadolu Agency reported on Friday. Police issued arrest warrants for 16 other people.

The arrests come after nearly 400,000 users of a Turkish cryptocurrency exchange were left out of their accounts without being able to withdraw their funds. The platform’s website has been down for several days, while reports suggest its CEO has already fled the country with up to $2 billion.

Bloomberg reported that Thodex, a Turkey-based crypto exchange, has ceased trading, citing an “unspecified partnership transaction.” The trading platform, founded in 2017, issued a statement explaining that all services will remain shut down for about five working days. However, the message reassured customers that they shouldn’t worry about their funds. In retrospect, they should.

Approximately at the same time, though, users started to complain about their inability to access their own assets. As Crypto Potato notes, some took it to Twitter to complain about losing much of their net worth.

A local #Crypto exchange where I'd ~20% of my entire trading capital got rug pulled

-20 days no withdrawal (fiat & crypto)

-Then the website went offline

-Then the CEO run abroad

I'm not broke, but it hurts… Alot

It sucks, Even when u deal with regulated exchanges#Thodex

— Feras_Crypto (will Never DM you First) (@FeraSY1) April 21, 2021

He wasn't alone: on Thursday, hundreds of thousands of users were unable to get access to their digital wallets.

"We have started the legal procedures and lodged a complaint at the prosecutor's office," a lawyer for some investors said. Prosecutors were investigating the businessman on charges of "aggravated fraud and founding a criminal organisation".

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https://www.zerohedge.com/crypto/dozens-arrested-after-ceo-turkish-crypto-exchange-flees-2-billion

>>13518969

When I was a kid, my grandpa told me about his neighbor accidentally running over a coat hanger with a lawn mower. The coat hanger straightened out and flew across the street, broke through a window and impaled a baby in a crib.

The baby ended up being ok, but he said it was close to hitting the baby's heart.

Freak shit happens sometimes.

>>13519088

No and no. His neighbor's yard was pretty messy though.

It could have been a lie, but I never considered it.

I've heard of other freak things like that too, like stray bullets hitting people, pieces of planes falling out of the sky landing on properties, getting struck by lightning more than once, etc.

You could be right. I dunno.

>>13519100

I'd say bring back the rallies.

Start doing a podcast and advertise the hell out of it.

With the extra money you'll get from it, start doing rallies.

Stay in the public light.

Keep your support base bubbling.

Make a comeback and help fix the broken system.

Nobody is stopping them anymore.

The future looks so dead now that you're not around.

Breathe some life into it, will ya?