Thodex CEO’s Death Fuels Calls for Crypto Regulation Reform in Turkey

The death of Faruk Fatih Özer, former CEO of Thodex and convicted of orchestrating a multi-billion dollar crypto fraud, has ignited debate about the regulation of cryptocurrency in Turkey. The incident, occurring while Özer was serving an unprecedented 11,196-year sentence for his crimes, adds to the urgency for reforms in the industry. 2021’s abrupt shutdown of Thodex and subsequent capture of Özer by authorities in Albania exposed the vulnerability of users left with millions in lost funds.