What happened to thodex?

From a report: Thodex was one of Turkey's largest crypto exchanges before it suddenly went offline in April 2021 and Ozer went missing. Over 400,000 members were left in the dark without access to deposits of $2 billion in cryptocurrencies. Ozer had fled to Albania but was arrested in August 2022 after an Interpol red notice against him.

Why is thodex so popular in Turkey?

Thodex was part of the cryptocurrency boom that has drawn in legions of Turks seeking to protect their savings from rampant inflation and an unstable currency. Inflation hit 16.2% in March, more than three times the central bank’s target of 5%. The Turkish lira has weakened 10% against the dollar this year, its ninth consecutive year of losses.

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.

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.