Boss Of Failed Crypto Exchange Thodex Gets 11,196-Year Sentence

[brenbren1]

The founder of a collapsed cryptocurrency exchange has been sentenced to more than 11 millennia in jail. The 11,196-year sentence was handed down Sep. 7 by a panel of judges in Turkey to Faruk Fatih Özer, Turkey’s state-run Anadolu Agency reported. Extremely long prison terms aren’t unheard of in Turkey. Özer was the founder of the Thodex exchange, which imploded in 2021. Other defendants sentenced included siblings of Özer. Thodex’s users lost over $2 billion worth of cryptocurrency when it barred them from withdrawing funds, according to research firm Chainalysis. Özer denied the accusations. “If I were to establish a criminal organization, I would not act so amateurishly,” Özer told the court, according to Anadolu.