untitled design

Turkish Police Investigate Thodex Exchange

Turkish police detained 62 people during an investigation related to the operation of the Thodex cryptocurrency exchange. Earlier, thousands of citizens filed complaints and accused the company of fraud.

Law enforcement agencies in Turkey have detained employees of the Thodex cryptocurrency exchange, which this week announced a suspension of work for four to five days due to the process of selling the site. However, users who were unable to withdraw money or access their accounts expressed concern on social media that they were the victim of a scam.

According to Turkish news agency Anadolu, the prosecutor’s office issued arrest warrants for 78 people, 62 of whom were detained in an operation centered in Istanbul but covering eight provinces. Istanbul police said the company’s founder and CEO Faruk Fatih Ozer left the country on Tuesday and flew to the Albanian capital Tirana.

On Thursday, the Istanbul prosecutor’s office said it had launched an investigation into Thodex over allegations that the platform had caused “the discontent of many citizens.” According to a source in the Turkish Financial Crimes Investigation Commission (MASAK), the regulator blocked the company’s accounts and began an investigation on Wednesday.

Thodex said “negative” media reports about the current situation were untrue, and that banks and funds to be named later wanted to invest in the company and offered partnerships. According to CoinMarketCap, the daily trading volume on the exchange on the last day was $ 538 million.

Between March 15th and April 15th, shortly before the price of Dogecoin began to rise, the exchange ran an extremely successful marketing campaign, rewarding each new user with 150 DOGE. On April 14, the DOGE / USDT rate on the stock exchange was fixed at $ 0.1145750. However, on April 16, DOGE cost $ 0.42.

Turkey banned the use of cryptoassets for payments last week, which in part led to a decline in the cryptocurrency market over the weekend. The Turkish central bank cited “irreparable” damage and operational risks as reasons for the ban.

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular