Thodex CEO Flees Collapse - Revision history

Azoundria: 30 minutes. Updated source names. Integrated information from Futurism article. Removed duplicate source. Integrating information from CBS News. Reviewing more videos with information from the time. Adding more sources.

2024-04-12T20:07:02Z

30 minutes. Updated source names. Integrated information from Futurism article. Removed duplicate source. Integrating information from CBS News. Reviewing more videos with information from the time. Adding more sources.

← Older revision		Revision as of 14:07, 12 April 2024
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	{{Case Study Under Construction}}[[File:Thodex.jpg\|thumb\|Thodex Logo/Banner]]Thodex was a large cryptocurrency exchange based in Turkey, which operated since 2017. Shortly after Turkey started requesting more information from users of cryptocurrency exchange platforms, then banned the use of cryptocurrencies for payments in the country, the platform shut down and it's CEO fled to Albania. There were widespread reports that $2b in assets were lost as a result, however the interior minister reported that the figure was closer to $108m. The CEO was ultimately arrested an entire year later. It is unclear what portion of funds have been returned to users.		{{Case Study Under Construction}}[[File:Thodex.jpg\|thumb\|Thodex Logo/Banner]]Thodex was a large cryptocurrency exchange based in Turkey, which operated since 2017. Shortly after Turkey started requesting more information from users of cryptocurrency exchange platforms, then banned the use of cryptocurrencies for payments in the country, the platform shut down and it's CEO fled to Albania. There were widespread reports that $2b in assets were lost as a result, however the interior minister reported that the figure was closer to $108m. The CEO was ultimately arrested an entire year later. It is unclear what portion of funds have been returned to users.

			<ref>https://www.tiktok.com/@mashnotpotatoess/video/7277510323190484230</ref><ref>https://www.quora.com/How-did-Faruk-Fatih-Ozer-the-founder-of-Thodex-go-from-being-a-financial-whizz-to-being-convicted-of-money-laundering-fraud-and-organized-crime</ref><ref>https://www.youtube.com/watch?v=Ybjlab5BDOA</ref><ref>https://www.newsweek.com/turkish-cryptocurrency-founder-faruk-fatih-ozer-seen-fleeing-country-suspected-2-billion-1585738</ref><ref>https://www.coindesk.com/business/2022/11/18/turkish-crypto-exchange-founder-faruk-to-be-extradited-to-turkey-to-face-charges-of-fraud-and-founding-a-criminal-organization-report/</ref><ref>https://www.wired.com/story/faruk-ozer-turkey-crypto-fraud/</ref><ref>https://www.tiktok.com/@wallstreetjournal/video/7276563630034832671</ref>

	== About Thodex ==		== About Thodex ==
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	Summarize and cite <ref name=":9" /> TBD		Summarize and cite <ref name=":9" /> TBD



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	\|April 20th, 2021 11:00:00 AM MDT		\|April 20th, 2021 11:00:00 AM MDT
	\|CoinMarketCap Data Stops		\|CoinMarketCap Data Stops
	\|" CoinMarketCap spokesperson tells CoinDesk that the exchange stopped providing trading data around 1 p.m. EDT on Tuesday.		\|A "CoinMarketCap spokesperson tells CoinDesk that the exchange stopped providing trading data around 1 p.m. EDT on Tuesday."<ref name="bankinfosecurity-421" />
	<ref name="bankinfosecurity-421" />"
	\|-		\|-
	\|April 21st, 2021		\|April 21st, 2021
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	\|April 21st, 2021 7:18:00 AM MDT		\|April 21st, 2021 7:18:00 AM MDT
	\|Bloomberg Thodex Article		\|Bloomberg Thodex Article
	\|Bloomberg publishes an article on the situation<ref>[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>. (~~TBD - Information about report.~~)		\|Bloomberg publishes an article on the situation<ref name=":11">[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>. "Turkish cryptocurrency exchange Thodex abruptly halted trading on Wednesday citing an unspecified partnership transaction, spurring complaints from users who can’t access their digital assets."<ref name=":11">[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>
	\|-		\|-
	\|April 21st, 2021 8:08:00 MDT		\|April 21st, 2021 8:08:00 MDT
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	\|April 22nd, 2021 10:46:10 AM MDT		\|April 22nd, 2021 10:46:10 AM MDT
	\|Deutsche Welle Article		\|Deutsche Welle Article
	\|Deutsche Welle ~~publishes an article on~~ Thodex<ref name="dw-422" />. ~~TBD fill~~ in ~~more details~~.		\|Deutsche Welle reports that Turkish authorities are investigating Fatih Faruk Ozer, the founder of Thodex cryptocurrency platform, who is suspected of fraud and founding a criminal organization<ref name="dw-422" />. Thodex abruptly went offline, prompting thousands of complaints from investors unable to access their funds<ref name="dw-422" />. Ozer is believed to have fled the country with as much as $2 billion in investors' assets<ref name="dw-422" />. The company denies wrongdoing, claiming to be in talks for a significant investment deal<ref name="dw-422" />. This incident underscores concerns in Turkey about the risks associated with cryptocurrencies, leading the central bank to tighten regulations and ban the use of digital currencies for payments starting from April 30<ref name="dw-422" />.
	\|-		\|-
	\|April 22nd, 2021		\|April 22nd, 2021
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	\|April 23rd, 2021 3:14:00 AM MDT		\|April 23rd, 2021 3:14:00 AM MDT
	\|Daily Sabah Article Published		\|Daily Sabah Article Published
	\|Daily Sabah ~~article published~~<ref>[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. (~~Review~~ and ~~expand~~.)		\|Daily Sabah reports that Turkey has escalated its pursuit of Faruk Fatih Özer, the founder of Thodex cryptocurrency platform, issuing an international arrest warrant and detaining 62 individuals linked to the company amid allegations of a $2 billion scam<ref name=":12">[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. Özer is believed to have fled to Albania, triggering Interpol's involvement<ref name=":12">[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. Turkish authorities have seized his assets and initiated legal proceedings for his extradition<ref name=":12">[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. Thodex, which abruptly halted trading citing a sale process, faces investigations and mounting complaints from users unable to access their funds<ref name=":12">[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. The incident has sparked public outcry and intensified scrutiny over cryptocurrency regulations in Turkey, with the central bank recently banning crypto payments due to perceived risks<ref name=":12">[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>.
	\|-		\|-
	\|April 23rd, 2021 4:34:58 AM MDT		\|April 23rd, 2021 4:34:58 AM MDT
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	\|The CoinMarketCap Alexandria article is update<ref name="unnamed-10615" />. TBD investigate update.		\|The CoinMarketCap Alexandria article is update<ref name="unnamed-10615" />. TBD investigate update.
	\|-		\|-
	\|		\|April 20th, 2023 1:59:00 AM MDT
	\|		\|Video Of Extradition
	\|		\|A video on YouTube is published showing Faruk Fatih Özer, the founder of the cryptocurrency exchange Thodex, being extradited to Turkey from Albania<ref name=":13">[https://www.youtube.com/watch?v=lYJUXdJczoE #NTV #HABER Thodex'in kurucusu Faruk Fatih Özer Türkiye'de - YouTube] (Accessed Apr 12, 2024)</ref>. Upon arrival at Istanbul Airport, he will undergo a health check before being taken to the Istanbul Police Department Airport Branch for further processing, including giving a statement<ref name=":13">[https://www.youtube.com/watch?v=lYJUXdJczoE #NTV #HABER Thodex'in kurucusu Faruk Fatih Özer Türkiye'de - YouTube] (Accessed Apr 12, 2024)</ref>. Özer's extradition was approved by the Albanian Supreme Court following Turkey's formal request<ref name=":13">[https://www.youtube.com/watch?v=lYJUXdJczoE #NTV #HABER Thodex'in kurucusu Faruk Fatih Özer Türkiye'de - YouTube] (Accessed Apr 12, 2024)</ref>. Özer is implicated in a case involving charges of fraud, founding a criminal organization, and money laundering related to the disappearance of millions of dollars worth of cryptocurrency belonging to thousands of investors<ref name=":13">[https://www.youtube.com/watch?v=lYJUXdJczoE #NTV #HABER Thodex'in kurucusu Faruk Fatih Özer Türkiye'de - YouTube] (Accessed Apr 12, 2024)</ref>. He was apprehended in Albania after Turkish authorities sought his extradition, which was initially denied by local courts but later approved by the Albanian Supreme Court<ref name=":13">[https://www.youtube.com/watch?v=lYJUXdJczoE #NTV #HABER Thodex'in kurucusu Faruk Fatih Özer Türkiye'de - YouTube] (Accessed Apr 12, 2024)</ref>.
	\|}		\|}

	== Technical Details ==		== Technical Details ==
	Limited information is available about what happened behind the scenes in Thodex.		Limited information is available about what happened behind the scenes in Thodex. What appears clear is that there is a significant discrepancy between the assets held by the platform and the assets owed to investors.

			One possibility is that Faruk Fatih Özer had an intense desire to continue operating the platform, even if it meant misleading platform users in the moment, so that he could ultimately repay investors.<blockquote>“So I decided to stay alive and fight, work and repay my debts to you. The day I repay all my debt, I will return to my country and give myself in to justice.”</blockquote>The other possibility is that Faruk Fatih Özer simply hoped to buy more time to escape from justice by whatever means possible.

	== Total Amount Lost ==		== Total Amount Lost ==
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	\|"$2 billion"		\|"$2 billion"
	\|"Accused of Fleeing to Albania With $2 Billion in Funds", "fleeing the country with $2 billion worth of his customers' assets", "disappearing with up to $2 billion in assets" "Thodex has about 390,000 active users"		\|"Accused of Fleeing to Albania With $2 Billion in Funds", "fleeing the country with $2 billion worth of his customers' assets", "disappearing with up to $2 billion in assets" "Thodex has about 390,000 active users"
			\|-
			\|Daily Sabah<ref name=":12" />
			\|April 23rd, 2021
			\|"390,000"
			\|"$2 billion"
			\|"An estimated $2 billion worth of investments are said to be affected and a lawyer for the victims said the money invested by about 390,000 active users had become “irretrievable.”"
	\|-		\|-
	\|ZDNet<ref name="zdnet-418" />		\|ZDNet<ref name="zdnet-418" />
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	\|"$2bn"		\|"$2bn"
	\|"Thodex’s CEO, who reportedly fled to Albania with $2bn belonging to some 400,000 clients"		\|"Thodex’s CEO, who reportedly fled to Albania with $2bn belonging to some 400,000 clients"
			\|-
			\|NTV News<ref name=":13" />
			\|Apr 20th, 2023
			\|"400,000"
			\|"tens of millions of dollars"
			\|"Fatih Özer'in 400.000 kişiye ait onlarca dolar değerindeki Kripto parayla yurt dışına kaçtığı belirtilmişti." "It was stated that Fatih Özer fled abroad with tens of millions of dollars' worth of cryptocurrency belonging to 400,000 people."
	\|}		\|}
	The total amount lost has been estimated at $2,000,000,000 USD, though this amount is questioned<ref name=":6" />. TBD need to resolve how much was actually lost.		The total amount lost has been estimated at $2,000,000,000 USD, though this amount is questioned<ref name=":6" />. TBD need to resolve how much was actually lost.

Azoundria: 30 minutes. Information from about section moved to other sections. Removing default template items and replacing with actual case details. Working on the prevention section to fill in individual prevention and expand the other sections for completeness. Added more information about Thodex and Turkey's economic backdrop.

2024-04-09T20:00:01Z

30 minutes. Information from about section moved to other sections. Removing default template items and replacing with actual case details. Working on the prevention section to fill in individual prevention and expand the other sections for completeness. Added more information about Thodex and Turkey's economic backdrop.

Show changes

Azoundria: Another 30 minutes complete. Some prevention side done.

2023-05-15T21:45:20Z

Another 30 minutes complete. Some prevention side done.

@@ Line 83: / Line 83: @@
 |-
 |April 22nd, 2021 6:49:00 AM MDT
-|Ozer Posts On Twitter
+|Ozer Defends Himself On Twitter
-|Ozer posts on Twitter in an attempt to defend himself, calling the accusations "baseless"<ref>[https://twitter.com/thodexofficial/status/1385214160372387845/ Thodex Official - "ÖNEMLİ DUYURU"/"IMPORTANT ANNOUNCEMENT" - Twitter] (May 10, 2023)</ref>. TBD can we translate this to English?
+|Ozer posts a three-page statement in Turkish on Twitter in an attempt to defend himself, calling the accusations "baseless"<ref name=":8">[https://twitter.com/thodexofficial/status/1385214160372387845/ Thodex Official - "ÖNEMLİ DUYURU"/"IMPORTANT ANNOUNCEMENT" - Twitter] (May 10, 2023)</ref>. "I would like it to be known that; As I have never done anything in my life that would harm neither my state nor my nation, I consider it cruel to even attribute such a thought to me."
 |-
 |April 22nd, 2021 8:45:00 AM MDT
@@ Line 186: / Line 186: @@
+|
 |}
 == Total Amount Lost ==
@@ Line 268: / Line 271: @@
 == Immediate Reactions ==
 How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?
 "Rumors have since been rife that Thodex owner Faruk Fatih Ozer has fled the country with the intent of defrauding users of their estimated $2 billion total in crypto." "Has the CEO of the Thodex cryptocurrency exchange in Turkey exit-scammed, fleeing the country with $2 billion worth of his customers' assets?" "Thodex stopped trading on April 22, coinciding with the disappearance of its chief executive officer (CEO) Faruk Fatih Özer, who is reported to have fled to Thailand with more than US$2 billion." "Özer also closed all his social media accounts, and the customer service line of the Turkish exchange is said to have been disconnected." "Users and media reports had claimed Ozer could have run off with $2 billion but Soylu said the company’s portfolio totaled $108 million."
@@ Line 322: / Line 368: @@
 == Platform Prevention Policies ==
-{{Prevention:Platforms:Placeholder}}
+The situation with Thodex is largely caused by a single individual accused of escaping with all of the funds.
 {{Prevention:Platforms:End}}
 == Regulatory Prevention Policies ==
-{{Prevention:Regulators:Placeholder}}
+{{Prevention:Regulators:Platform Security Assessments}}
 {{Prevention:Regulators:End}}

Azoundria: Another 30 minutes complete.

2023-05-10T21:04:29Z

Another 30 minutes complete.

Show changes

Azoundria: Another 30 minutes complete.

2023-05-09T20:18:09Z

Another 30 minutes complete.

Show changes

Azoundria: https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 so much information, but working on getting some of it into the article.

2023-03-31T22:09:09Z

https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 so much information, but working on getting some of it into the article.

← Older revision		Revision as of 16:09, 31 March 2023
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	* Details of what audits reported and how vulnerabilities were missed during auditing.		* Details of what audits reported and how vulnerabilities were missed during auditing.
	*		*
	Thodex CEO was only 27 years old<ref name="bloomberg-420" />.		Thodex CEO was only 27 years old<ref name="bankinfosecurity-421" /><ref name="bloomberg-420" />.

	== What Happened ==		== What Happened ==
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	\|Last Recorded Withdrawal		\|Last Recorded Withdrawal
	\|The last time that a withdrawal is recorded from the Thodex hot wallet, according to CoinDesk<ref name="beincrypto-429" /><ref>[https://tokenscope.com/address/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b/btc/btc?value=&blockchain=&token= Thodex Bitcoin Hot Wallet - TokenScope] (Mar 29, 2023)</ref><ref>[https://www.blockchain.com/explorer/transactions/btc/b591ad50f2abb2da367aa97a6891b547de79ff078662f8183fad78a38b85fd8e Last Hot Wallet Withdrawal Transaction - Blockchain.com] (Mar 29, 2023)</ref><ref name=":7">[https://www.blockchain.com/explorer/addresses/btc/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b Thodex Hot Wallet - Blockchain.com] (Mar 29, 2023)</ref>.		\|The last time that a withdrawal is recorded from the Thodex hot wallet, according to CoinDesk<ref name="beincrypto-429" /><ref>[https://tokenscope.com/address/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b/btc/btc?value=&blockchain=&token= Thodex Bitcoin Hot Wallet - TokenScope] (Mar 29, 2023)</ref><ref>[https://www.blockchain.com/explorer/transactions/btc/b591ad50f2abb2da367aa97a6891b547de79ff078662f8183fad78a38b85fd8e Last Hot Wallet Withdrawal Transaction - Blockchain.com] (Mar 29, 2023)</ref><ref name=":7">[https://www.blockchain.com/explorer/addresses/btc/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b Thodex Hot Wallet - Blockchain.com] (Mar 29, 2023)</ref>.
			\|-
			\|April 20th, 2021 11:00:00 AM MDT
			\|CoinMarketCap Data Stops
			\|" CoinMarketCap spokesperson tells CoinDesk that the exchange stopped providing trading data around 1 p.m. EDT on Tuesday.
			<ref name="bankinfosecurity-421" />"
	\|-		\|-
	\|April 21st, 2021		\|April 21st, 2021
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	\|April 21st, 2021		\|April 21st, 2021
	\|Ozer Flees Turkey		\|Ozer Flees Turkey
	\|Thodex CEO and founder Faruk Fatih Ozer reportedly leaves from Istanbul on a commercial flight<ref name=":5">[https://beincrypto.com/turkish-crypto-exchange-users-unable-to-withdraw-as-ceo-flees/ Turkish Crypto Exchange Users Unable to Withdraw as CEO Flees - BeInCrypto] (Mar 28, 2023)</ref>. This was described as being to meet with "foreign investors"<ref name="zdnet-418" />.		\|Thodex CEO and founder Faruk Fatih Ozer reportedly leaves from Istanbul, Turkey to Tirana, the capital of Albania, on a commercial flight<ref name="bankinfosecurity-421" /><ref name=":5">[https://beincrypto.com/turkish-crypto-exchange-users-unable-to-withdraw-as-ceo-flees/ Turkish Crypto Exchange Users Unable to Withdraw as CEO Flees - BeInCrypto] (Mar 28, 2023)</ref>. This was described as being to meet with "foreign investors"<ref name="zdnet-418" />.
	\|-		\|-
	\|April 21st, 2021 7:18:00 AM MDT		\|April 21st, 2021 7:18:00 AM MDT
	\|Bloomberg Thodex Article		\|Bloomberg Thodex Article
	\|Bloomberg publishes an article on the situation<ref>[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>. ~~This reportedly stated that~~		\|Bloomberg publishes an article on the situation<ref>[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>. (TBD - Information about report.)
	\|-		\|-
	\|April 21st, 2021 8:08:00 MDT		\|April 21st, 2021 8:08:00 MDT

Azoundria: Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing - Bloomberg (May 10, 2021) done, 10 sources left.

2023-03-31T22:03:19Z

Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing - Bloomberg (May 10, 2021) done, 10 sources left.

← Older revision		Revision as of 16:03, 31 March 2023
Line 6:		Line 6:

	This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.		This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.
	~~<ref name="bloomberg-420" />~~<ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />		<ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />

	== About Thodex ==		== About Thodex ==
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	* How the service was structured behind the scenes. (For example, there was no "trading bot".)		* How the service was structured behind the scenes. (For example, there was no "trading bot".)
	* Details of what audits reported and how vulnerabilities were missed during auditing.		* Details of what audits reported and how vulnerabilities were missed during auditing.
			*
			Thodex CEO was only 27 years old<ref name="bloomberg-420" />.

	== What Happened ==		== What Happened ==
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	\|Loss Amount Questioned		\|Loss Amount Questioned
	\|Questions around the total amount of the platform are raised on Twitter<ref name=":6">[https://twitter.com/C0_G1/status/1385233991612129287 Cenk - "aggressively been pursuing this wild narrative of $2 billion USD worth of user funds being exit scammed" - Twitter] (Mar 29, 2023)</ref>.		\|Questions around the total amount of the platform are raised on Twitter<ref name=":6">[https://twitter.com/C0_G1/status/1385233991612129287 Cenk - "aggressively been pursuing this wild narrative of $2 billion USD worth of user funds being exit scammed" - Twitter] (Mar 29, 2023)</ref>.
			\|-
			\|April 22nd, 2021 3:39:00 AM MDT
			\|Bloomberg Reports Thodex Goes Bust
			\|Bloomberg publishes another article. "One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue operations, leaving hundreds of thousands of investors fearing their savings have evaporated as authorities sought to locate the company’s 27-year-old founder, who fled the country"<ref name="bloomberg-420" />.
	\|-		\|-
	\|April 22nd, 2021 8:45:00 AM MDT		\|April 22nd, 2021 8:45:00 AM MDT
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	<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (May 10, 2021)</ref>		<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (May 10, 2021)</ref>
	<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO - CoinTelegraph] (May 10, 2021)</ref>		<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO - CoinTelegraph] (May 10, 2021)</ref>
	<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing] (May 10, 2021)</ref>		<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing - Bloomberg] (May 10, 2021)</ref>
	<ref name="bankinfosecurity-421">[https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 Turkish Police Probe Thodex Cryptocurrency Exchange] (May 10, 2021)</ref>		<ref name="bankinfosecurity-421">[https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 Turkish Police Probe Thodex Cryptocurrency Exchange] (May 10, 2021)</ref>
	<ref name="dw-422">[https://www.dw.com/en/turkish-cryptocurrency-platform-founder-vanishes-fraud-suspected/a-57302955 Turkish cryptocurrency platform founder vanishes, fraud suspected \| News \| DW \| 22.04.2021] (May 10, 2021)</ref>		<ref name="dw-422">[https://www.dw.com/en/turkish-cryptocurrency-platform-founder-vanishes-fraud-suspected/a-57302955 Turkish cryptocurrency platform founder vanishes, fraud suspected \| News \| DW \| 22.04.2021] (May 10, 2021)</ref>

Azoundria: Turkey jails 6 in probe into missing Thodex crypto exchange CEO completed. 11 sources remaining.

2023-03-31T21:59:08Z

Turkey jails 6 in probe into missing Thodex crypto exchange CEO completed. 11 sources remaining.

← Older revision		Revision as of 15:59, 31 March 2023
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	{{~~Imported~~ Case Study ~~2\|source=https://www.quadrigainitiative.com/casestudy/ceofleesthodexcollapse.php~~}}		{{Case Study Under Construction}}{{Unattributed Sources}}
	{{Unattributed Sources}}

	[[File:Thodex.jpg\|thumb\|Thodex]]While the Thodex matter is still ongoing, it would appear that the vast majority of people involved have been released at this point. There is also no suggestion that others conspired to assist him in leaving the country with user funds. There is suggestion that Thodex was already in a challenging position, and may have in fact been operating fractionally for some time, and the timing of the closure aligns strongly with a regulatory crackdown that sought to ban cryptocurrency usage as a means of payment in the country.		[[File:Thodex.jpg\|thumb\|Thodex]]While the Thodex matter is still ongoing, it would appear that the vast majority of people involved have been released at this point. There is also no suggestion that others conspired to assist him in leaving the country with user funds. There is suggestion that Thodex was already in a challenging position, and may have in fact been operating fractionally for some time, and the timing of the closure aligns strongly with a regulatory crackdown that sought to ban cryptocurrency usage as a means of payment in the country.
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	This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.		This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.
	~~<ref name="cointelegraph-419" />~~<ref name="bloomberg-420" /><ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />		<ref name="bloomberg-420" /><ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />

	== About Thodex ==		== About Thodex ==
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	\|ZDNet Article		\|ZDNet Article
	\|The Thodex situation is published on ZDNet<ref>[https://web.archive.org/web/20210426072441/https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (Mar 30, 2023)</ref>. This article reports that the founder has fled the country with "billions of dollars in user assets", "approximately $2 billion in funds with him which belongs to 391,000 investors". It's reported "thousands of Turkish citizens have now filed criminal complaints" and the Justice Ministry has issued a red notice for Ozer. The Thodex website is apparently calling the situation a "baseless" "smear campaign", that they temporarily closed to resolve an "abnormality" in the company accounts, and that Ozer left Turkey to meet with "foreign investors". The Thodex website also claims there was an undisclosed cyber-attack causing a "suspicious situation", that the company is "prevented from continuing its commercial life" as "a result of the perception of victimization created in the public [space]", and that Ozer will be returning to Turkey to cooperate with authorities. Ozer's original Twitter account was closed down and a new account is sharing company statements<ref name="zdnet-418" />. (Need to add more/investigate on the Twitter accounts.)		\|The Thodex situation is published on ZDNet<ref>[https://web.archive.org/web/20210426072441/https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (Mar 30, 2023)</ref>. This article reports that the founder has fled the country with "billions of dollars in user assets", "approximately $2 billion in funds with him which belongs to 391,000 investors". It's reported "thousands of Turkish citizens have now filed criminal complaints" and the Justice Ministry has issued a red notice for Ozer. The Thodex website is apparently calling the situation a "baseless" "smear campaign", that they temporarily closed to resolve an "abnormality" in the company accounts, and that Ozer left Turkey to meet with "foreign investors". The Thodex website also claims there was an undisclosed cyber-attack causing a "suspicious situation", that the company is "prevented from continuing its commercial life" as "a result of the perception of victimization created in the public [space]", and that Ozer will be returning to Turkey to cooperate with authorities. Ozer's original Twitter account was closed down and a new account is sharing company statements<ref name="zdnet-418" />. (Need to add more/investigate on the Twitter accounts.)
			\|-
			\|April 30th, 2021 4:57:27 AM MDT
			\|CoinTelegraph Report
			\|CoinTelegraph reports an update<ref>[https://web.archive.org/web/20210430105727/https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO - CoinTelegraph] (Mar 31, 2023)</ref>. This article reports that a red notice has been issued for Özer, 6 have been jailed and 83 others have been detained in the case, and information about Özer's siblings as supected<ref name="cointelegraph-419" />. The company's portfolio is reported as totaling $108m, referencing reports from interior minister Soylu<ref name="cointelegraph-419" />.
	\|-		\|-
	\|May 3rd, 2021 7:48:00 AM MDT		\|May 3rd, 2021 7:48:00 AM MDT
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	"The Turkish Central Bank has recently announced a ban on cryptocurrency payments in the country." "Turkey's central bank says the payment restrictions are necessary due to a lack of a regulatory, "central" authority." "From 30 April, residents in Turkey will be unable to legally pay for goods and services with digital assets." "The Turkish crypto market remains unregulated despite growing scepticism from President Recep Tayyip Erdogan's government about its safety." "In light of the fallout, the Turkish government moved to enforce stricter regulations on cryptocurrency exchanges." "Several government offices are involved in drafting the regulatory framework, including the financial crimes watchdog Masak, the Treasury & Finance Ministry as well as the Capital Markets Board. They expect a draft to be completed within a few weeks." "Orkun Godek, an investment researcher based in the capital Istanbul, remarked, “This market looks like a bottomless pit and regulation is absolutely needed. Risks may trigger new risks. People may close positions elsewhere to counter their crypto losses.”" "Meanwhile, hundreds of thousands of Turks are left gazing at the ruins of their savings and retirement plans, wondering if they will ever recover."		"The Turkish Central Bank has recently announced a ban on cryptocurrency payments in the country." "Turkey's central bank says the payment restrictions are necessary due to a lack of a regulatory, "central" authority." "From 30 April, residents in Turkey will be unable to legally pay for goods and services with digital assets." "The Turkish crypto market remains unregulated despite growing scepticism from President Recep Tayyip Erdogan's government about its safety." "In light of the fallout, the Turkish government moved to enforce stricter regulations on cryptocurrency exchanges." "Several government offices are involved in drafting the regulatory framework, including the financial crimes watchdog Masak, the Treasury & Finance Ministry as well as the Capital Markets Board. They expect a draft to be completed within a few weeks." "Orkun Godek, an investment researcher based in the capital Istanbul, remarked, “This market looks like a bottomless pit and regulation is absolutely needed. Risks may trigger new risks. People may close positions elsewhere to counter their crypto losses.”" "Meanwhile, hundreds of thousands of Turks are left gazing at the ruins of their savings and retirement plans, wondering if they will ever recover."

			=== Arrests of Siblings ===
			Özer's brother and sister were considered important suspects in the case since both had significant cryptocurrency holdings<ref name="cointelegraph-419" />.

			His brother Güven Özer was reported to hold $2.7m USD worth of digital assets on the platforms BTC Turk and Paribu. Güven reportedly served as an active executive at Thodex despite not having an official role at the company<ref name="cointelegraph-419" />.

			His sister Serap Özer was reported to have $14.6m USD worth of transactions on her Binance account between 2018 and 2021. She is alleged to have overseen the financial activities at Thodex, however she insists that the account is not hers<ref name="cointelegraph-419" />.

			=== Red Notice Issued ===
			Interpol released a red notice for the Thodex CEO and founder<ref name="cointelegraph-419" />.

			Interior minister Süleyman Soylu expressed hope and optimism that he would be returned successfully<ref name="cointelegraph-419" />.

			“When he is caught with the red notice, we have extradition agreements with a large part of these countries. God willing he will be caught and he will be returned.”

	== Ultimate Outcome ==		== Ultimate Outcome ==
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	<ref name="yahoofinance-417">[https://finance.yahoo.com/news/where-did-thodex-crypto-exchange-134800259.html Where did the Thodex Crypto Exchange Bitcoins Go? - Yahoo Finance] (May 10, 2021)</ref>		<ref name="yahoofinance-417">[https://finance.yahoo.com/news/where-did-thodex-crypto-exchange-134800259.html Where did the Thodex Crypto Exchange Bitcoins Go? - Yahoo Finance] (May 10, 2021)</ref>
	<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (May 10, 2021)</ref>		<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (May 10, 2021)</ref>
	<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO] (May 10, 2021)</ref>		<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO - CoinTelegraph] (May 10, 2021)</ref>
	<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing] (May 10, 2021)</ref>		<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing] (May 10, 2021)</ref>
	<ref name="bankinfosecurity-421">[https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 Turkish Police Probe Thodex Cryptocurrency Exchange] (May 10, 2021)</ref>		<ref name="bankinfosecurity-421">[https://www.bankinfosecurity.com/turkish-police-probe-thodex-cryptocurrency-exchange-a-16455 Turkish Police Probe Thodex Cryptocurrency Exchange] (May 10, 2021)</ref>

Azoundria: ZDNet article done with for now. Down to 12 sources left.

2023-03-30T22:10:58Z

ZDNet article done with for now. Down to 12 sources left.

← Older revision		Revision as of 16:10, 30 March 2023
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	This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.		This exchange or platform is based in Turkey, or the incident targeted people primarily in Turkey.
	~~<ref name="zdnet-418" />~~<ref name="cointelegraph-419" /><ref name="bloomberg-420" /><ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />		<ref name="cointelegraph-419" /><ref name="bloomberg-420" /><ref name="bankinfosecurity-421" /><ref name="dw-422" /><ref name="forkast-423" /><ref name="english-424" /><ref name="trtworld-425" /><ref name="coingeek-426" /><ref name="aljazeera-427" /><ref name="english-428" /><ref name="slowmisthacked-1160" /><ref name="unnamed-10615" />

	== About Thodex ==		== About Thodex ==
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	\|April 21st, 2021		\|April 21st, 2021
	\|Thodex Suspends Operations		\|Thodex Suspends Operations
	\|Thodex ~~reportedly~~ suspended operations due to a partnership offer<ref name="beincrypto-429" />. The service promised that it would remain shut for only 5 days<ref name="beincrypto-429" />.		\|Thodex posts a notice on their website explaining that they have suspended operations due to a partnership offer<ref name="beincrypto-429" />. The service promised that it would remain shut for only 5 days<ref name="beincrypto-429" />.
	\|-		\|-
	\|April 21st, 2021		\|April 21st, 2021
	\|Ozer Flees Turkey		\|Ozer Flees Turkey
	\|Thodex CEO and founder Faruk Fatih Ozer reportedly ~~flees fled~~ from Istanbul on a commercial flight<ref name=":5">[https://beincrypto.com/turkish-crypto-exchange-users-unable-to-withdraw-as-ceo-flees/ Turkish Crypto Exchange Users Unable to Withdraw as CEO Flees - BeInCrypto] (Mar 28, 2023)</ref>.		\|Thodex CEO and founder Faruk Fatih Ozer reportedly leaves from Istanbul on a commercial flight<ref name=":5">[https://beincrypto.com/turkish-crypto-exchange-users-unable-to-withdraw-as-ceo-flees/ Turkish Crypto Exchange Users Unable to Withdraw as CEO Flees - BeInCrypto] (Mar 28, 2023)</ref>. This was described as being to meet with "foreign investors"<ref name="zdnet-418" />.
	\|-		\|-
	\|April 21st, 2021 7:18:00 AM MDT		\|April 21st, 2021 7:18:00 AM MDT
	\|Bloomberg Thodex Article		\|Bloomberg Thodex Article
	\|Bloomberg publishes an article on the situation<ref>[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>.		\|Bloomberg publishes an article on the situation<ref>[https://www.bloomberg.com/news/articles/2021-04-21/crypto-users-bicker-after-turkish-exchange-abruptly-goes-silent Crypto Users Bicker After Turkish Exchange Abruptly Goes Silent - Bloomberg] (Mar 28, 2023)</ref>. This reportedly stated that
	\|-		\|-
	\|April 21st, 2021 8:08:00 MDT		\|April 21st, 2021 8:08:00 MDT
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	\|Fraud Complaint Filed		\|Fraud Complaint Filed
	\|Users of the Thodex platform reportedly filed a fraud complaint<ref name=":5" />. Some Thodex employees are detained<ref name=":2">[https://www.tomshardware.com/news/thodex-crypto-exchange-founder-busted-faces-40000-years-in-jail Crypto Exchange Founder Fled With $2 Billion Busted, Faces 40,000 Years in Jail - TomsHardware] (Mar 27, 2023)</ref>.		\|Users of the Thodex platform reportedly filed a fraud complaint<ref name=":5" />. Some Thodex employees are detained<ref name=":2">[https://www.tomshardware.com/news/thodex-crypto-exchange-founder-busted-faces-40000-years-in-jail Crypto Exchange Founder Fled With $2 Billion Busted, Faces 40,000 Years in Jail - TomsHardware] (Mar 27, 2023)</ref>.
			\|-
			\|April 23rd, 2021 2:10:00 AM MDT
			\|Bloomberg Reports Manhunt
			\|Bloomberg reports that the Justice Ministry has issued a red notice for Faruk Fatih Ozer<ref name="zdnet-418" /> and described the situation as a manhunt<ref>[https://www.bloomberg.com/news/articles/2021-04-23/turkey-arrests-dozens-in-probe-of-crypto-exchange-collapse#xj4y7vzkg Turkey Begins Manhunt for CEO of Collapsed Crypto Exchange - Bloomberg] (Mar 30, 2023)</ref>.
			\|-
			\|April 23rd, 2021 3:14:00 AM MDT
			\|Daily Sabah Article Published
			\|Daily Sabah article published<ref>[https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam Turkey seeks crypto boss Özer, detains dozens in alleged $2B scam - Daily Sabah] (Mar 30, 2023)</ref>. (Review and expand.)
			\|-
			\|April 24th, 2021 7:16:29 PM MDT
			\|Anadolu Agency Article
			\|An article is published by Anadolu Agency<ref>[https://web.archive.org/web/20210425011629/https://www.aa.com.tr/en/turkey/turkey-nabs-68-suspects-in-cryptocurrency-probe/2219820 Turkey nabs 68 suspects in cryptocurrency probe - Anadolu Agency] (Mar 30, 2023)</ref>. (Review and expand.)
			\|-
			\|April 26th, 2021 1:24:41 AM MDT
			\|ZDNet Article
			\|The Thodex situation is published on ZDNet<ref>[https://web.archive.org/web/20210426072441/https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (Mar 30, 2023)</ref>. This article reports that the founder has fled the country with "billions of dollars in user assets", "approximately $2 billion in funds with him which belongs to 391,000 investors". It's reported "thousands of Turkish citizens have now filed criminal complaints" and the Justice Ministry has issued a red notice for Ozer. The Thodex website is apparently calling the situation a "baseless" "smear campaign", that they temporarily closed to resolve an "abnormality" in the company accounts, and that Ozer left Turkey to meet with "foreign investors". The Thodex website also claims there was an undisclosed cyber-attack causing a "suspicious situation", that the company is "prevented from continuing its commercial life" as "a result of the perception of victimization created in the public [space]", and that Ozer will be returning to Turkey to cooperate with authorities. Ozer's original Twitter account was closed down and a new account is sharing company statements<ref name="zdnet-418" />. (Need to add more/investigate on the Twitter accounts.)
	\|-		\|-
	\|May 3rd, 2021 7:48:00 AM MDT		\|May 3rd, 2021 7:48:00 AM MDT
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	!		!
	!BeInCrypto<ref name=":5" />		!BeInCrypto<ref name=":5" />
	!		!ZDNet<ref name="zdnet-418" />
	!		!
	\|-		\|-
	\|Date		\|Date
	\|~~Apr~~ 22nd		\|April 22nd
	\|		\|April 26th
	\|		\|
	\|-		\|-
	\|Users		\|Users
	\|390,000		\|390,000
	\|		\|391,000
	\|		\|
	\|-		\|-
	\|Losses		\|Losses
	\|"hundreds of millions ~~of dollars~~"		\|"hundreds of millions"
	\|		\|"$2 billion"
	\|		\|
	\|}		\|}
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	<references>		<references>
	<ref name="yahoofinance-417">[https://finance.yahoo.com/news/where-did-thodex-crypto-exchange-134800259.html Where did the Thodex Crypto Exchange Bitcoins Go? - Yahoo Finance] (May 10, 2021)</ref>		<ref name="yahoofinance-417">[https://finance.yahoo.com/news/where-did-thodex-crypto-exchange-134800259.html Where did the Thodex Crypto Exchange Bitcoins Go? - Yahoo Finance] (May 10, 2021)</ref>
	<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds \| ZDNet] (May 10, 2021)</ref>		<ref name="zdnet-418">[https://www.zdnet.com/article/thodex-cryptocurrency-exchange-founder-allegedly-goes-on-the-run-with-2bn-in-client-funds/ Thodex cryptocurrency exchange chief allegedly goes on the run with $2bn in client funds - ZDNet] (May 10, 2021)</ref>
	<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO] (May 10, 2021)</ref>		<ref name="cointelegraph-419">[https://cointelegraph.com/news/turkey-jails-6-in-probe-into-missing-thodex-crypto-exchange-ceo Turkey jails 6 in probe into missing Thodex crypto exchange CEO] (May 10, 2021)</ref>
	<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing] (May 10, 2021)</ref>		<ref name="bloomberg-420">[https://www.bloomberg.com/news/articles/2021-04-22/turks-suspect-massive-crypto-losses-as-exchange-ceo-goes-missing Turks Suspect Massive Crypto Losses As Exchange CEO Goes Missing] (May 10, 2021)</ref>

Azoundria: All the subsequent hot wallet transfers added and linked in the wiki article.

2023-03-29T20:30:11Z

All the subsequent hot wallet transfers added and linked in the wiki article.

@@ Line 62: / Line 62: @@
 |Between April 14th and April 16th, the market price of Dogecoin increased from $0.11 USD to $0.42 USD on global exchanges, however it stayed priced at the low price of $0.11 USD on Thodex<ref name="beincrypto-429" />.
 |-
-|April 17th, 2021
+|April 17th, 2021 12:41:36 PM MDT
 |Last Recorded Withdrawal
-|The last time that a withdrawal is recorded from the Thodex hot wallet<ref name="beincrypto-429" />.
+|The last time that a withdrawal is recorded from the Thodex hot wallet, according to CoinDesk<ref name="beincrypto-429" /><ref>[https://tokenscope.com/address/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b/btc/btc?value=&blockchain=&token= Thodex Bitcoin Hot Wallet - TokenScope] (Mar 29, 2023)</ref><ref>[https://www.blockchain.com/explorer/transactions/btc/b591ad50f2abb2da367aa97a6891b547de79ff078662f8183fad78a38b85fd8e Last Hot Wallet Withdrawal Transaction - Blockchain.com] (Mar 29, 2023)</ref><ref name=":7">[https://www.blockchain.com/explorer/addresses/btc/3MGdeqnS4h3hRWM5VqMLHFzwgJy6c1Zz9b Thodex Hot Wallet - Blockchain.com] (Mar 29, 2023)</ref>.
 |-
 |April 21st, 2021
@@ Line 89: / Line 89: @@
 |BeInCrypto Article
 |BeInCrypto publishes an article on the exchange<ref name="beincrypto-429" />. The article is also published through Yahoo Finance<ref name="yahoofinance-417" />.
 |-
 |March 31st, 2022 9:58AM MDT