Crypto exchange boss allegedly flees with $2 billion in funds

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Crypto substitution boss allegedly flees with $2 billion in funds

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The CEO of a Turkish cryptocurrency commutation has reportedly disappeared with $two billion of investors' funds, leaving more than 300,000 users concerned well-nigh their money.

The crypto platform Thodex said it had been "temporarily airtight" to address an "abnormal fluctuation in the company accounts," according to a statement on its website. But local media reports claim the house'south founder, Faruk Fatih Ozer, has flown to Republic of albania, sparking an ongoing international manhunt.

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The incident seemingly began on Wednesday (April 21) when Ozer disappeared; Turkey'south country-run Anadolu Agency said that 62 people accept since been questioned around his disappearance and the closure of the exchange.

Notwithstanding, Ozer himself said that the claims are "unfounded," posting a lengthy statement on the platform's website in which he maintains he traveled abroad to come across strange investors, that only 30,000 out of 700,000 accounts have been affected past the "suspicious situation," and labels the allegations a "smear campaign against both myself and my company."

According to Bloomberg, Thodex recently offered new registrants millions of free Dogecoins, merely many users alleged they haven't received them.

The news comes amid turmoil over cryptocurrency in Turkey. Last week, the central banking company pledged to tighten regulations around crypto trading. And on Friday another substitution, Vebitcoin, also halted operations; four employees were reportedly detained soon afterwards.

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Source: https://www.tomsguide.com/news/crypto-exchange-boss-allegedly-flees-with-dollar2-billion-in-funds

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