Thodex Founder Sentenced to 11,196 Years in Prison

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The founder and former CEO of Turkish crypto exchange Thodex, Faruk Fatih Ozer, was sentenced to 11,196 years in prison in an Anatolia court, alongside his siblings, on fraud and money laundering charges. They were also ordered to pay a fine of $5 million.

Ozer had been detained in Albania in 2022 at the request of the Ankara police, before being extradited back to his home country.

In 2021, Thodex was reportedly one of the largest cryptocurrency platforms, before it abruptly stopped servicing its users.

Ozer is accused of stealing $2 billion in digital assets from the platform’s investors. Following this, he was placed on the international wanted list, leading to his eventual apprehension and sentencing.