• Latest
Crypto Requires Another “L” as Turkish Exchange Founder Runs With $2bn in Consumer Funds

Crypto Requires Another “L” as Turkish Exchange Founder Runs With $2bn in Consumer Funds

April 24, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

Crypto Requires Another “L” as Turkish Exchange Founder Runs With $2bn in Consumer Funds

coinnewsdaily by coinnewsdaily
April 24, 2021
in Bitcoin
0
Crypto Requires Another “L” as Turkish Exchange Founder Runs With $2bn in Consumer Funds
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022


Faruk Fatih Ozer, the founder of the Turkish crypto trade Thodex, is reportedly on the run with billions of bucks of users’ cash. Stories declare the trade web page shut down on Wednesday, with a information indicating trading was suspended due to an “unspecified outdoors expense.”

Quite a few Turks experienced turned to crypto as a lifeline following the Lira’s plunging valuation. In response, the central lender moved to ban Bitcoin and other cryptos in payment for goods and solutions. But Ozer’s disappearance has intensified calls for an even bigger crackdown.

Crypto in The Spotlight Soon after Founder Goes Missing

Turkish authorities are on the lookout for Ozer following he fled the place with a reported $2 billion. Officers have produced a image of the suspect likely by means of passport handle at Istanbul airport. Media stories say he may perhaps have flown to both Albania or Thailand.

The Thodex crypto exchange was jogging forceful promotions, presumably to entice deposits in the run-up to Ozer’s disappearance. Regional media talks about just one these kinds of advertising in which the agency sold Dogecoin underneath current market benefit. A affliction of the advertising was that investors could not offer straight away.

Victims of the exit fraud are submitting issues at their regional prosecutors’ office environment. But provided the unregulated character of crypto exchanges in standard, several fear their funds are lost.

Prosecutors have issued arrest warrants for 78 people today. So much, 62 have been detained in an operation stretching 8 Turkish provinces.

Thodex issued a assertion indicating adverse reviews about them are untrue. They maintain that the internet site is down mainly because banks and other companions experienced expressed an interest in investing in them.

Following the site shutting down mid-7 days, people took to Twitter to convey considerations that their cash had been inaccessible. Even at that early stage, some suspected they had been ripped off.

Turkey Bans The Use of Cryptocurrency

Previous 7 days, Turkey’s central bank issued an buy to ban the use of crypto in payment for merchandise and services. The action was a response to a rise in Turkish citizens turning to cryptocurrency to hedge versus spiraling inflation and the consequences of the Lira’s decline.

The bank reported this was vital as crypto offers a risk from lack of regulation and severe volatility. The limitations will arrive into outcome at the conclusion of this month.

“neither subject matter to any regulation and supervision mechanisms nor a central regulatory authority. Their marketplace values can be excessively risky.”

Lots of had panned the move citing federal government overreach. But Ozer’s disappearance will definitely give Turkish President Recep Tayyip Erdoğan gasoline to back again up his mandate.

With that, focus is at the time yet again again on crypto exchanges. Whilst the term, not your keys, not your cash is prevalent, victims only recognize this when it is much too late.

Tags: AlbaniaBitcoinPresidentThailandTurkeys central bankTwitter
Share76Tweet48
Previous Post

Bitcoin’s Composition Damaged, This Metric Points To Salvation

Next Post

Stock-To-Move Creator “Relieved” After Bitcoin Cost Plummets Down below Trajectory

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
Bitcoin

Play-to-Earn Bitcoin Games: How Lightning Network Enables Gamers to Earn Sats

April 20, 2022
Load More
Next Post
Stock-To-Move Creator “Relieved” After Bitcoin Cost Plummets Down below Trajectory

Stock-To-Move Creator "Relieved" After Bitcoin Cost Plummets Down below Trajectory

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,786.003.08%
  • ethereumEthereum(ETH)$1,665.095.69%
  • tetherTether(USDT)$1.000.08%
  • binancecoinBNB(BNB)$328.406.78%
  • rippleXRP(XRP)$0.4135783.07%
  • cardanoCardano(ADA)$0.4004884.64%
  • dogecoinDogecoin(DOGE)$0.0933800.90%
  • matic-networkPolygon(MATIC)$1.2211.54%
  • okbOKB(OKB)$39.916.25%
  • solanaSolana(SOL)$24.865.68%
  • polkadotPolkadot(DOT)$6.494.63%
  • litecoinLitecoin(LTC)$99.903.88%
  • shiba-inuShiba Inu(SHIB)$0.0000122.88%
  • tronTRON(TRX)$0.0634162.28%
  • daiDai(DAI)$1.000.09%
  • cosmosCosmos Hub(ATOM)$14.707.86%
  • chainlinkChainlink(LINK)$7.245.55%
  • moneroMonero(XMR)$178.582.35%
  • leo-tokenLEO Token(LEO)$3.36-6.79%
  • ethereum-classicEthereum Classic(ETC)$22.464.95%
  • bitcoin-cashBitcoin Cash(BCH)$138.384.88%
  • stellarStellar(XLM)$0.0928953.69%
  • filecoinFilecoin(FIL)$5.649.66%
  • crypto-com-chainCronos(CRO)$0.0811523.34%
  • algorandAlgorand(ALGO)$0.2547217.28%
  • vechainVeChain(VET)$0.0246818.59%
  • internet-computerInternet Computer(ICP)$5.961.79%
  • aaveAave(AAVE)$90.8711.74%
  • eosEOS(EOS)$1.083.01%
  • elrond-erd-2MultiversX(EGLD)$44.033.99%
  • theta-tokenTheta Network(THETA)$1.087.38%
  • tezosTezos(XTZ)$1.104.99%
  • paxos-standardPax Dollar(USDP)$0.99-0.38%
  • huobi-tokenHuobi(HT)$5.252.25%
  • bitcoin-cash-svBitcoin SV(BSV)$43.622.98%
  • havvenSynthetix Network(SNX)$2.6516.16%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.256.93%
  • dashDash(DASH)$62.173.13%
  • iotaIOTA(MIOTA)$0.2337444.77%
  • makerMaker(MKR)$682.155.65%
  • zcashZcash(ZEC)$47.496.59%
  • neoNEO(NEO)$8.626.72%
  • zilliqaZilliqa(ZIL)$0.0285887.02%
  • basic-attention-tokenBasic Attention(BAT)$0.2718057.92%
  • compound-governance-tokenCompound(COMP)$55.888.08%
  • nemNEM(XEM)$0.0395668.03%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$36.613.77%
  • bitcoin-goldBitcoin Gold(BTG)$17.366.02%
  • qtumQtum(QTUM)$2.775.36%
  • sushiSushi(SUSHI)$1.4011.24%
  • wavesWaves(WAVES)$2.605.55%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,663.986.59%
  • golemGolem(GLM)$0.2466087.30%
  • omisegoOMG Network(OMG)$1.487.21%
  • ontologyOntology(ONT)$0.2157566.17%
  • digibyteDigiByte(DGB)$0.0111517.45%
  • umaUMA(UMA)$2.104.61%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%