TechFlow news: Faruk Fatih Özer, founder of Turkish cryptocurrency exchange Thodex, along with his sister Serap Özer and brother Güven Özer, have been sentenced to 11,196 years, 10 months, and 15 days in prison, and fined 135 million liras (approximately 5 million USD).
Thodex was one of Turkey's largest cryptocurrency exchanges, but abruptly shut down in April 2021, causing over 400,000 members to lose $2 billion worth of cryptocurrency deposits. Özer fled to Albania afterward but was extradited back to Turkey in August 2022. By April 2023, Özer had been convicted, with 21 other defendants in the case facing up to 40,564 years in prison.
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