Incident Overview
Six siblings of Turkish exchange Thodex executives and CEO have been formally arrested, a Turkish court said. And Thodex CEO Faruk Fatih Özer disappeared, leaving behind a collapsed exchange with total losses estimated to range from $24 million to $2.5 billion. Faruk was arrested in August more than a year after fleeing Turkey. In September 2023, Faruk and his siblings were sentenced to 11,196 years in prison and will also pay a fine of 135 million lira (approximately $5 million).
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.