Thodex exchange founder Faruk Fatih Özer found dead in prison while serving 11,196-year sentence

The former crypto boss had been serving an 11,196-year sentence for establishing and leading a criminal organization.

Key Takeaways

• An investigation is underway after Thodex founder Faruk Fatih Özer was found hanging in his prison room's bathroom.
• Thodex collapsed in April 2021, leading to massive losses for investors before Özer fled to Albania, where he was captured and later extradited to Turkey.

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Faruk Fatih Özer, the founder of Thodex, formerly one of Turkey’s biggest crypto exchanges, was found dead in his prison cell at Tekirdağ F-Type High Security Closed Penitentiary, suspected to be by suicide, gdh digital reported Saturday.

Özer, who had fled to Albania, was extradited to Turkey after being charged with multiple crimes, including aggravated fraud and money laundering through Thodex, which collapsed in April 2021 following an abrupt shutdown that resulted in large-scale losses for retail and institutional investors using the exchange.

In September 2023, Özer was sentenced to 11,196 years in prison for fraud. Key figures linked to Thodex’s operations, including his siblings and senior employees, were also arrested and jailed.

An investigation into Özer’s death is underway.

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