🚹 $2 Billion Thodex Scandal – Exchange Founder Dead 🚹

Faruk Fatih Özer, 22‑year‑old founder of Turkish exchange Thodex, turned a promising startup into a $2 billion exit scam. In 2021 withdrawals froze, investors lost billions, and Özer fled. Interpol tracked him down, extradition followed, and a Turkish court sentenced him to >11,000 years. He was found dead in his prison cell on Nov 1 2025.

The collapse sparked sweeping crypto regulation in Turkey: ban on crypto payments, strict exchange compliance, and a surge in adoption. Today Turkey ranks among the highest crypto‑volume nations in the Middle East.

From a dark fraud to a catalyst for growth—Thodex’s legacy lives on.

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