Reported: Thodex THDX (Exchange)
Compiled by ScamMarketCap from public recordsHappened Apr 21, 2021Türkiye
Thodex, a Turkish cryptocurrency exchange, suspended trading in April 2021 and its website went dark, locking hundreds of thousands of investors out of their accounts. Local media reported that its founder, Faruk Fatih Özer, had flown abroad. Prosecutors charged 21 people and put the losses at 356 million lira. Özer was caught in Albania in August 2022 and extradited to Turkey in April 2023.
In September 2023 an Istanbul court sentenced Özer and two of his siblings to 11,196 years in prison each for establishing a criminal organization, aggravated fraud and money laundering. In January 2025 an appeals court overturned the verdict and sent the case back to the trial court. On 1 November 2025 Özer was found dead in his cell at a high-security prison in Tekirdağ. Authorities said he died by suicide, and prosecutors opened an investigation.
In September 2026 prosecutors asked the court to drop the case against Özer because of his death, convict his two siblings and acquit 11 other defendants. A verdict was expected on 12 November 2026.
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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