The head of a Turkish cryptocurrency exchange to face over 40,000 years in prison

Faruk Fatih Ozer, the founder and CEO of the Turkish cryptocurrency trading platform Thodex, is currently facing extradition back to Turkey, where he could face a 40,564-year prison sentence.

Ozer was arrested in Albania last month after allegedly fleeing the country with $2 billion in investor assets in 2021. According to local media, Ozer and a few other Thodex employees are facing prison sentences of more than 40,000 years. In the lawsuit, twenty-one defendants are on trial. With nearly 400,000 members and $2 billion in cryptocurrencies, Thodex was one of Turkey’s largest cryptocurrency exchanges.