Defunct Crypto Exchange Thodex CEO Found Dead In Prison Cell — Report
Faruk Fatih Ozer, founding father of the now-defunct Thodex alternate, was discovered lifeless in his jail cell whereas serving his sentence in Turkey, in line with native media studies. The former alternate CEO was sentenced in 2023 to 11,196 years in jail for numerous monetary crimes.
Thodex CEO Might Have Committed Suicide: Turkish Minister
On Saturday, November 1, Bloomberg reported that Ozer died in his jail cell within the F-Type High Security Closed Prison within the Western Turkish metropolis of Tekirdag. Citing Turkish broadcaster TRT, Bloomberg revealed that the authorities are investigating the founder’s dying, with a deal with the potential for a suicide.
Justice Minister Yilmaz Tunc stated in a press release:
An investigation has been opened on this matter and is ongoing. The actual reason for dying might be decided because of the investigation. But at present, the preliminary findings point out that it was a suicide.
Ozer was discovered hanging within the rest room of his single-person jail cell, which led the investigative speculations on the reason for dying being a suicide. However, the Tekirdag F-Type High Security Closed Prison has been known as out up to now by some human rights organizations for its use of solitary confinement and small-group isolation.
Ozer, who established the cryptocurrency alternate Thodex in 2017, fled to Albania after the abrupt collapse of his agency in 2021. Following his extradition from Albania in 2022, the previous crypto CEO, alongside together with his two siblings, was found guilty by an Istanbul court for numerous crimes, together with aggravated fraud, cash laundering, and operating a prison group.
Ozer revealed in a press release launched shortly after the implosion of Thodex that he had considered surrendering to regulation enforcement or committing suicide. However, the previous alternate boss selected as a substitute to flee Turkey for Albania with the intention to “keep alive and battle, work and repay my money owed.”
In the preliminary case introduced in opposition to Ozer, the prosecutor estimated the overall losses incurred by buyers to be round $24 million after Thodex’s collapse. However, the Turkish media put the figures as high as $2 billion, whereas a knowledge analytics agency reported a $2.6 billion loss.
Crypto Total Market Cap At $3.66 Trillion
As of this writing, the cryptocurrency whole market capitalization stands at round $3.66 trillion, reflecting a 0.39% bounce up to now 24 hours. However, a broader look reveals that the market is on a downward development, falling by almost 10% up to now month.
