FluxAlpha

2018

Nền kinh tế của Thổ Nhĩ Kỳ trở nên mong manh do thâm hụt tài khoản vãng lai quá mức và nợ ngoại tệ cao. Những phát biểu không bình thường của Tổng thống Erdoğan về lãi suất, tuyên bố "đừng lo, lãi suất không phải là nguyên nhân mà là kết quả," đã gặp phải sự hoài nghi và hài hước từ các thị trường—nhưng cuộc khủng hoảng là có thật. Cuộc khủng hoảng tiền tệ năm 2018 đã tấn công mạnh mẽ, làm mất ổn định nền kinh tế. Sự chuyển đổi sang một hệ thống tổng thống tập trung đã làm trầm trọng thêm các nút thắt trong quyết định, tăng cường sự dễ bị tổn thương của nền kinh tế.

THE FOUNDING AND RISE OF THODEX

Founded in 2017 under Koineks Technology Inc. by Faruk Fatih Özer in Istanbul, Thodex quickly became one of Turkey’s fastest-growing crypto exchanges. Aggressive marketing and promotions attracted a large user base eager to trade Bitcoin and other cryptocurrencies safely.
CRISIS AND ESCAPE

In April 2021, Thodex suddenly froze all withdrawals, citing “maintenance” and “security checks.” Behind the scenes, CEO Faruk Fatih Özer fled to Albania. Silence fell over the platform as users’ funds—worth roughly $400 million—became inaccessible, leaving investors stranded and devastated.
LEGAL PURSUIT AND ARREST

The Turkish Public Prosecutor’s Office launched a swift investigation, issuing an international arrest warrant. On August 30, 2022, Özer was captured in Albania and extradited to Turkey. He was imprisoned in April 2023, facing charges including fraud, organized crime, aggravated fraud, and money laundering.
COURT TRIAL AND SENTENCING

Istanbul courts handed Özer staggering sentences totaling over 11,000 years in prison. His siblings, Serap and Güven Özer, were also prosecuted. Meanwhile, millions of victims continue their fight for justice in ongoing legal battles
PRISON DEATH AND CONTROVERSY

On November 1, 2025, Özer was found dead in his cell at Tekirdağ F-Type High-Security Prison. Reports state he was discovered hanging in the bathroom during a morning count. Despite suffering from anxiety disorder and avoiding family visits, he had recently been discussed in a prison meeting addressing suicide risks among inmates. A note resembling a suicide letter was found, but official autopsy results are pending. His family and lawyers had requested psychiatric support, which was reportedly not provided. His death remains a tragic and controversial turning point in the Thodex saga.
IMPACT ON TURKEY’S CRYPTO ECOSYSTEM

The Thodex scandal exposed deep weaknesses in Turkey’s crypto regulation and security frameworks. Thousands of investors suffered massive financial losses. This crisis pushed for stricter regulations and better oversight of crypto exchanges in Turkey. Transparency and trust have now become top priorities for the industry.
Takeaway for Traders & Investors:
Thodex is a harsh reminder of crypto’s risks without solid regulation. Always prioritize security, demand transparency, and stay informed to protect your assets in volatile markets.
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