• Sat. Jun 3rd, 2023

Turkish Crypto Investors Fear Mega Crypto Scam Involving US$ 2 Billion

Apr 21, 2021

Thodex, which is a crypto trading platform of Turkey, is currently undergoing immense pressure. But its customers are more concerned than the trading platform itself because the firm has gone completely silent. The firm is one of the large crypto trading firms of Turkey having customers nearing a million.

Currently, the trading platform of Thodex is non-accessible to any of its customers. Neither they can conduct any crypto trading nor are they able to access their funds lying in the trading account with the firm. It was later confirmed that the trading was at the firm was suspended by Thodex itself. The decision of suspending the trade was initiated on the eve of 21st April (Wednesday), 2021. Since the trade suspension, no business-related activity has taken place till the writing of this press release.

Rumors of possible crypto fraud are circulating and Turkish crypto investors are concerned that their crypto funds are at stake.

However, today an official statement has been published by Thodex. In this statement, the firm has informed its customers that the business activities will remain suspended for a further 4 to 5 days. Yet no element of possible fraud has been indicated in the statement. Instead, the reason for suspension has been given due to complications in the process of sale and purchase, suggested the statement.

It was indicated in the statement that until the firm is able to complete the pending crypto transfers, no further business activity will be conducted. After 4 to 5 days the firm has committed to return back to its normal crypto trade business. Furthermore, customers have been advised to maintain patience and informed that funds with the firm are safe. Customers have been further told to avoid anxiety as the firm is responsible for their investments.

But before publishing the official statement, Thodex informed the customers that because of a routine maintenance check, the services were suspended. In fact, a time of at least six hours maximum was informed to the customers within which time, the firm was to complete a maintenance check. However, because of the conflicting statements, the customers are trying to get hold of their investments and crypto funds. But due to the suspension of activities, they are unable to seek withdrawal of their funds, even though requests have been lodged.

Many of Thodex customers were later seen complaining about the issue on Twitter. They shared their views regarding the present status of their crypto trading platform. In addition, they were of the view that they think the firm is going to commit an exit scam.

Meanwhile, the local police also took notice of the event and conducted an initial inquiry. As per the police, Thodex’s CEO, who is a Turkish national by the name Faruk Fatih Ozer has already left the country two days ago. It has been rumored that the firm’s CEO has flown away with approximately US$ 2 Billion belonging to the customers of Thodex. Police also apprised that the CEO had left the country from Istanbul Airport and landed in Thailand.

After leaving the country, the CEO has issued a statement advising customers that there is no fraud. However, the customers are still empty-handed while the administration of Thodex has gone into silent mode, responding to no one.

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