Founder of Turkish Exchange Sentenced to 11,000 years in Prison

Faruk Fatih Özer, founder of Turkey's disappeared Thodex crypto exchange, and his family are to serve over 11,000 years in jail.

Thodex was once a big crypto platform in Turkey. But in 2021, it suddenly stopped and $2 billion of people's money disappeared. Özer ran away to Albania but was caught in 2022 after Interpol made efforts to find him. By 2023, Turkey brought him back and charged him with many crimes.

Alongside Özer, his brother, sister, and other workers were arrested. 21 people were in the big trial, and they could have faced over 40,000 years in jail together. In the end, the Anatolian 9th Heavy Penal Court decided: Özer and his family got over 11,000 years in jail. They also must pay 135 million liras (about $5 million). But 16 out of 21 people were found not guilty because there was not enough proof.

 Many people in Turkey use crypto because Their nation's currency has lost value. So, when Thodex failed, it caused a lot of confusion.