Is the founder of Turkish Crypto site the next - Mt. Gox?
My, oh, my, founder of Turkish Thodex has fleed the country after taking $2B in investors assets! Do we have the making of yet another Mt. Gox in the making?
What is wrong here? Let me count the ways! Greed and self-love for starters! Somehow the justification of taking was is rightfully others for themselves.
Former owner and CEO Faruk Fatih Ozer left Turkey via customs to Albania via Airplane. Ah, the modern travel wonder.
Turkish Authorities raided Thodex HQ and seized computers, records and arrested 62 people. Why is it that one person does the crime and they punish everyone else?
Turkish Authorities also called Albanian authorities to have Frauk Ozer arrested and repatriated to Turkey. If memory serves me correctly if this did happen justice would be very severe for Faruk.
Tell-tale signs at Thodex...membership had swollen in recent months as Turkish citizens attempted to move out of Lira (local currency) due to raging inflation. Along w/ Thodex incentivizing new memberships w/ DOGE coins, for new members. Turns out most new members never received their DOGE even though Thodex claims all DOGE had been paid out. (Bait and switch tactic). Low barriers to open new accounts ($6000 or 50,000 LIRA)...
Recall Turkey is banning Crypto payments on April 30th!
Currently the number of customers impacted is unknown...
Summary - not the first Crypto criminal to start-up a firm with the intent on stealing from others, nor will it be the last. Learn from others and protect what is yours! Don't let a few ruin it for the many!
