Turkish Police Detain 62 People in Thodex Investigation: Report

Police in Turkey have detained 62 people in connection with criminal complaints filed against crypto exchange Thodex, according to reports citing government-controlled Anadolu Agency.

The Thodex crypto exchange went offline April 18 with its CEO subsequently going missing, fleeing the country according to reports.Istanbul police said that Faruk Fatih Ozer had flown to the Albanian capital Tirana on Tuesday.According to a report by Reuters, citing the Turkish state-controlled news agency, prosecutors have issued arrest warrants for 78 people with 62 detained so far.Anadolu Agency reported Friday that Turkey’s Justice Ministry is seeking Interpol’s help in finding, detaining and returning Thodex’s CEO Faruk Fatih Ozer from Albania to Turkey.The Thodex exchange, which has 400,000 members, announced it was undergoing maintenance April 18-19, subsequently telling users it would be offline for five days.Users filed a complaint against the exchange Thursday alleging hundreds of millions of dollars had been stolen.Cryptocurrency has been thriving in Turkey this year with people turning to it as a hedge against inflation, which had reached as high as 16% in March as oil prices spiked, according to Bloomberg.The central bank announced April 16 that cryptocurrency was to be banned as a means of payment.

See also: Exec of Chinese Blockchain Firm Allegedly Misappropriated $45M in State-Owned Bitcoin: Report

UPDATE (Apr. 23, 2021, 18:16 UTC): The article has been modified to include a new update on government action via Anadolu Agency.

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