Time to reflect on their actions? – Almost a year ago, at the end of April 2021, the exchange platform Thodex worried the entire Turkish cryptosphere. From hundreds of thousands of users feared an exit scam officials of the crypto-exchange, and it happened recognized true afterwards that he had unfortunately well done. But former Thodex executives risk big for their mischief. Indeed, Turkish justice could condemn them to very (very) heavy prison sentences.
40,000 years in prison for scamming Thodex crypto investors
As of April 19, 2021, from first worrying signs originated from the crypto-asset exchange platform Thodexbased in Turkey. It quickly turned out that Farouk Fatih Ozerits CEO and founder, was gone with the cashand left the country.
Although the latter remains for the time being untraceable and actively Wanted by Interpoljustice takes its course. According to a Bloomberg publication, a Turkish prosecutor has asked for sentences totaling exactly 40,564 years in prison for the 21 managers of the Thodex crypto exchange!
The indictment mentions the creation of a criminal organizationfrom fraud and of money laundering by the former leaders of the exchange.
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Although these charges claim a loss of digital assets equivalent to $24 million (356 million Turkish liras), the amounts mentioned by a Chainalysis report last January were much more pessimistic. According to this analysis, until $2.6 billion would have been defrauded via Thodex.
It must be said that the case fell and square shaft crypto-assets in the country, as citizens rushed to Bitcoin (BTC) and its ilk, to protect against strong depreciation Turkish Lira. The course of BTC had an ATH in this fiat currency at the end of November 2021, when at the same time the price of cryptocurrency was already starting to sharply correct against the dollar.
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