The arrest of Faruk Fatih Özer and fraud through the Thodex exchange

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Hello, my dear readers and faithful followers. Today, as the very title of the article says, we will write a short update of the previous article that dealt with the topic of the five biggest frauds in the crypto world.

Let's briefly repeat what it was about.

This fraud was carried out by a Turkish citizen named Faruk Fatih Özer, who was the owner and founder of the Thodex exchange, and the fraud was carried out in Turkey. Approximately $2 billion was stolen from more than 400,000 investors. This all happened at the moment when Bitcoin reached its ATH of $62,000 in April 2021. Thodex shut down operations for 6 hours due to alleged maintenance. That period was extended to 5 days until eventually all operations were suspended, the exchange was closed, and Mr. Faruk disappeared in an unknown direction with $2 billion in loot. He transferred about $125 million in Bitcoin to the exchange Kraken, which was associated with alleged illegal activities. More than 60 people were arrested then, and Mr. Faruk was sentenced to 40,000 years in prison under Turkish law. After that, he pretended in public that he was sorry for his crimes and claimed that he had even attempted suicide.

Quote:

"So I decided to stay alive and fight, work, and repay my debts to you. The day I repay all my debt, I will return to my country and give myself to justice," he claimed at the time.

Until recently, all traces of him were lost, but since justice is slow but still attainable, Mr. Faruk Fatih Özer finally got it right. Namely, he was caught in Vlora, Albania by Interpol and the Albanian Law and Order Forces and held until extradition was initiated by the Turkish authorities.

During the arrest, Mr. Faruk gave false information, but that didn't help him either, because his fingerprints were taken and a search was conducted using a facial recognition program, and of course, the real identity of this cunning Turkish criminal was revealed.

Conclusion

What can we learn and conclude from this story?

Someone will say that this move was brilliant and that Mr. Faruk is a genius in crime and that he must have enjoyed the huge sums of money he stole from unfortunate investors, that he must have hidden at least part of the money and that he will have it forever, but is that all true?! 

Will he ever be able to get out of prison if he is sentenced to a dizzying 40,000 years in prison and did he really enjoy the money during his escape? 

I think his story is very far from enjoying the money and all the benefits it brings. This time that he spent on the run from the authorities could not be called a happy period, but in that period Mr. Faruk must have spent his time in constant fear of arrest and constant hiding from the law, not to mention the problem that such a large amount of money brought him. How to hide and launder so much money so that it is ready for consumption without anyone noticing??? 

You can read about this problem in my article about money laundering in the crypto world, so you will see that the real problem is not to steal money, but problems arise when that money needs to be washed and prepared for consumption. So, as you can see, that enormous amount of stolen money did not really bring happiness to Mr. For Faruk, on the contrary, a mountain of problems and fears and in the very end an arrest and a huge prison sentence.

If crime pays off and people who steal from others have a peaceful sleep and a happy life, you can conclude for yourself based on this article and countless other examples you can find everywhere in the world around you.

As for me, I believe that my peaceful sleep and carefree life are more important than all the billions of dollars in this world! It's far from the fact that I wouldn't want to have a lot of money and be rich, but it's still better to get that money by working and investing than by stealing and cheating, even if it takes many years to achieve your goal.

And what do you think, dear readers? Does crime pay?

You can write your thoughts in the comments!

Greetings and until my next article!

Neo77