Fun

News Feed - 2023-09-08 07:09:42

Prashant Jha13 hours agoTurkish crypto exchange Thodex CEO gets 11,000-year sentence for $2B scam: ReportThe Thodex founder fled the country in 2021 only to be detained in Albania in August 2022 and extradited to Turkey in April 2023.6475 Total views114 Total sharesListen to article 0:00NewsJoin us on social networksThe former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court on charges of “establishing, managing and being a member of an organization,” “qualified fraud,” and “laundering of property values.”


The Anatolian 9th High Criminal Court sentenced Özer along with his two siblings to the same jail sentence of 11,196 years, 10 months and 15 days in prison along with a $5-million fine, reportedTurkish state-run news agency Anadolu Agency.


The Turkish crypto exchange was one of the largest digital asset trading platforms in the country before it abruptly imploded in 2021. The exchange halted services on the platform without prior notice, and the founder, Özer, fled the country along with users’ assets totaling $2 billion in crypto. At the time, Özer had refuted all claims of a possible exit scam.


The fugitive founder was finally detained in Albania in August 2022, where he was serving a jail sentence, before he was extradited to Turkey in April 2023 on charges of fraud and money laundering. Özer was already in jail for failure to submit tax documents since July, while the most recent conviction comes for defrauding customers.


Related:Individual behind $3.4B Silk Road Bitcoin theft sentenced to one year in prison


The founder of the crypto exchange claimed in court that he and his family are facing injustice. He said Thodex was just a crypto company that went bankrupt and had no criminal intentions. A Google-translated version of Özer’s court statement read:“I am smart enough to manage all institutions in the world. This is evident from the company I founded at the age of 22. If I were to establish a criminal organization, I would not act so amateurishly. What is in question is it is clear that the suspects in the file have been victims for more than 2 years.”


The long-drawn-out case against the Thodex crypto exchange had 21 defendants, five of whom attended the court hearing in person. The court acquitted 16 defendants of “qualified fraud” due to lack of evidence and ordered the release of four defendants. The other defendants in the case received varying degrees of sentences based on their involvement in the fraud.


Magazine:Crypto Twitter Hall of Flame: Pro-XRP lawyer John Deaton ‘10x more into BTC, 4x more into ETH# Bitcoin# Blockchain# Cryptocurrencies# Turkey# Cryptocurrency Exchange# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?Human vs. AI: Who is better at crypto investing?10 years later, still no Bitcoin ETF — but who cares?

News Feed

Dogwifhat (WIF) Shines With 15% Rally In The Past Week — Is $2.8 The Next Stop?
Este artículo también está disponible en español. The emergence of Donald Trump as the president-elect of the United States has been one of the biggest catalysts the cryp
Venezuela Seizes 315 Bitcoin Mining Rigs: Miners Discuss Illegal Confiscation, Police Extortion
Venezuela Seizes 315 Bitcoin Mining Rigs: Miners Discuss Illegal Confiscation, Police ExtortionThe Venezuelan military has seized 315 Bitmain Antminer S9 bitcoin mining rigs it clai
Bitcoin, Ethereum Technical Analysis: BTC Consolidates, Ahead of Pivotal FOMC Meeting
Bitcoin, Ethereum Technical Analysis: BTC Consolidates, Ahead of Pivotal FOMC Meeting Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Mark
Blockchain-based elections a real option with zero-knowledge tech
Daniel Ramirez-Escudero9 hours agoBlockchain-based elections a real option with zero-knowledge techNew developments make voting with decentralized tech a more realizable goal.424 Total views1 Total sharesListen to articl
Bitcoin 'sell-side liquidity crisis' sees BTC move for the first time since 2010
William Suberg36 minutes agoBitcoin "sell-side liquidity crisis" sees BTC move for the first time since 2010Bitcoin analysis is counting down to a BTC supply squeeze unlike any other — one which should come within the
Bank of France Governor Calls for Mandatory Licensing for Crypto Companies
Bank of France Governor Calls for Mandatory Licensing for Crypto Companies France has to adopt a licensing regime for crypto service providers, the head of the country’s central
Bitcoin Short-Term Holders Fueling Potential Dip – $90K Support Crucial Level To Hold
Este artículo también está disponible en español. Bitcoin experienced a highly volatile trading session yesterday, with prices swinging between $92,300 and $96,420 throug
Why Buying Bitcoin Now Is Better Than Later As BTC Price Consolidates Within Falling Wedge
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Robinhood says its 24-hour trading ‘currently operating’
Helen Partz9 hours agoRobinhood says its 24-hour trading ‘currently operating’Introduced in May 2023, the Robinhood 24-hour market service allows customers to invest on their own schedule.3332 Total views30 Total sha
Crypto Derivatives Exchange FTX Launches Bitcoin Hashrate Futures
Crypto Derivatives Exchange FTX Launches Bitcoin Hashrate FuturesOn Friday, cryptocurrency derivatives exchange FTX launched a hashrate futures tool that allows Bitcoin (BTC) miners
Solana Restarts Mainnet, SOL Users Complain, Dev Says Network Stall Not Similar to ETH in 2016
Solana Restarts Mainnet, SOL Users Complain, Dev Says Network Stall Not Similar to ETH in 2016 The blockchain network Solana had issues processing blocks on September 14 and accord
Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’
Opensea Cuts 20% of the NFT Market"s Staff, Citing "Crypto Winter" and "Macroeconomic Instability" The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has an