The Turkey-based stock exchange Thodex has carried out an exit scam. In this scam, the founder of the exchange disappeared with a fortune of $ 2 billion in digital currencies. Users no longer have access to the exchange and can no longer trade on it. The Turkish public prosecutor is investigating the case.
Thodex Exit Scam
The Turkey-based crypto exchange Thodex enjoyed an increasing number of customers last month. Until a few days ago, the Exchange had almost 400,000 customers. This success did not seem to be enough for the founder of the stock exchange, Fatih Özer.
When accessing the corresponding Thodex website, it is no longer possible for customers to access the dashboard and trade on it. In the exit scam of the stock exchange, the CEO was able to steal almost $ 2 billion from around 391,000 active users.
In a release, Özer announced that trading on the platform would be suspended for 4-5 days in order to integrate an external peer-to-peer cryptocurrency investment service.
The services will remain closed for about five working days while the share transfer completes, but users don't have to worry about their investments.
Here the ears of some investors were ringing and they let their displeasure about not being able to trade on the stock exchange run free on Twitter. Due to the lively interaction on the social media platform, this news spread quickly and the rumor of an exit scam made the rounds.
At first, the founder tried to counteract these claims and even published a post on the official homepage that everything was OK and that the platform would soon resume regular operations - Thedox is far from being an exit scam.
However, this news, which was supposed to be intended to reassure investors, was again evidence of lies. The numbers mentioned in the article were wrong. For this reason, the rumors about the exit scam hardened. Knowing that any attempts to further convince his customers that Thedox would continue to fail, the founder deleted his social media account.
Investigation of the case
The Turkish public prosecutor's office has now received thousands of complaints. This initiated investigations directly and published a photo of Fatih Özer that showed him at Istanbul Airport on Tuesday. According to information available to Reuters, Özer disappeared to Albania with the $ 2 billion in his pocket.
As a result, the headquarters of the provider of the cryptocurrency platform was searched today - but with little success. The search for Özer is currently still active.
Dogecoin Marketing
Dogecoin is one of the cryptocurrencies that can show a rapid increase in price. The cryptocurrency, intended as a fun currency, is experiencing an enormous hype through promotions by greats such as Elon Musk or Snoop Dogg. Many investors jump on this bandwagon - even if the cryptocurrency has no real application.
It was precisely this hype that Özer took advantage of to attract even more customers before the exit scam, which was planned long in advance so that he can steal their investments. In a special offer that took place between March 15 and April 15, the platform offered every new customer a gift of 150 DOGE. Thus, the exchange was able to triple its daily trading volume to almost 600 million dollars within this month.
Exit scams are unfortunately not uncommon in the crypto sector. In order to protect you from such dangers, we have put together a list with which we provide you with criteria so that you can recognize scams at an early stage. Make sure to protect yourself and your capital as best you can from fraudsters!
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