Why is thodex closed?

Thodex, a crypto firm based in Turkey, said its platform has been “temporarily closed” to address an “abnormal fluctuation in the company accounts,” according to a translated statement on its website. Local media reports say that Faruk Fatih Ozer, Thodex’s founder, has flown to Albania, taking $2 billion of investors’ funds with him.

How much did thodex lose in 2021?

According to Chainalysis, the value of cryptocurrency lost at Thodex earlier this year was $2.6 billion, making it the largest “rug pull” of 2021. Faruk Fatih Ozer, the former CEO of the collapsed cryptocurrency exchange Thodex, has been extradited from Albania to Turkey to face charges of fraud and money laundering.

What happened to a Turkish cryptocurrency exchange?

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England. LONDON — A Turkish cryptocurrency exchange is offline and its CEO has reportedly gone missing, leaving thousands of investors worried that their funds have been stolen.

Why did Zer leave thodex?

Özer, the founder and CEO of Thodex, fled to Albania after his exchange suddenly went offline last year. More than 400,000 members were left in the dark without access to deposits of $2 billion in cryptocurrencies. The events surrounding Thodex had created a stir in Turkey where crypto has been used as a hedge against inflation.