Thodex founder denies allegations of fraud and says he was put in (report)

Thodex founder denies allegations of fraud and says he was put in (report)

Faruk Fetih Özer-founder of the no longer existing Turkish cryptocurrency exchange Thodex-said reported to a court date in his home country all allegations of fraud. The 29-year-old is said to have fled Turkey, shortly after his company hired his trading services and closed his official website.

Rumor has placed over $ 2 billion in user funds, which was described as the greatest crypto fraud in the country's history. Özer was arrested in Albania last summer and later deported to Turkey, where a legal proceedings will clarify whether he was involved in the collapse and has his possible prison sentence.

"I was put in"

, according to Sabah, one of the leading Turkish media, the trial against Özer began with a hearing that lasted about 11 hours. The man claimed that the allegations that he had cheated numerous Thodex customers and exploited their assets were wrong, and added that he had been "obtained".

He announced that the original purpose of his company was to operate e-commerce. Later, however, Özer was fascinated by cryptocurrencies and decided to align the company in this direction.

"I started mobile transactions with the software developers that I added to my team. My whole life was intertwined with the digital world to establish a cryptocurrency exchange," he added

Faruk Özer (in the middle), BBC

Another reason why Thodex dealt with the universe of digital assets is the fact that there was a lack of suitable crypto companies in 2017, said Özer.

According to him, the transactions of the company were automatically carried out, although he was the "authorized" person to monitor this activity:

"I personally checked the transactions made on the corporate platform at the banks in the form of an Excel table. I was the only one to ensure that there were no security gaps."

Özer claimed that some of his employees, including two of his siblings, were "illegal".

He added that when he signed a first membership agreement, he declared that he could not be held responsible for future damage. Özer said that the customers who claimed the services of the company were aware of this risk.

Thodeex 'Suns and Özer's further trip

The crypto exchange based in Turkey set up its trading services in spring 2021 (four years after its foundation). The news shocked the company's 400,000 customers and gave them the opportunity to withdraw their money. In addition, CEO Özer hesitated to solve the problem and did not cooperate with the domestic authorities.

instead he fled out of the country and reports inserted more than $ 2 billion in user funds. His whereabouts remained unclear for more than a year. Some sources indicated that he could hide in Albania. The refugee was arrested in August 2022 in the Balkanland, while the Turkish authorities were on its delivery and started preparing the legal proceedings against him.

should be found to be guilty.

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