By Tyler S - Cryptocurrency Investor - 30-04-2021
The 6 detained included siblings of the missing Thodex CEO and are said to have millions of dollars’ worth of crypto.
Turkish authorities are inquiring into the local cryptocurrency exchange Thodex, which suddenly ceased operations last week.
During the investigation, Interpol issued a Red Notice to Thodex CEO and founder Faruk Fatih zer who had flown to Albania. Local authorities arrested over 83 people suspected of being involved in the case, as fears grew that Thodex was a fraud after the platform suspended money withdrawals.
Some suspects suggested that zer's siblings — Güven zer and Serap zer — may have played critical roles in Thodex's operations, noting that both had significant crypto holdings, in line with local news organization Anadolu Agency.
It's reported that Güven zer is said to possess nearly 22 million Turkish liras ($2.7 million) on two major local cryptocurrency exchanges, BtcTurk and Paribus.
Between 2018 and 2021, Serap zer, the missing CEO's sister, reportedly had over 120 million liras ($14.6 million) in large crypto transactions on her Binance account. She stated that she didn't own the account. Serap reportedly supervised Thodex's financial operations.
The Thodex CEO was initially rumoured to have fled with up to $2 billion worth of crypto; however, recent sources state that the inside minister Soylu noted that the company's portfolio totalled $108 million.
Another Turkish cryptocurrency exchange, Vebitcoin, announced last week that it'd cease operations because of employee arrests and fraud claims.
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