According to reports, Faruk Fatih Ozer, the founder of Turkish cryptocurrency exchange Thodex, has billions of dollars in user funds. report Said that the exchange’s website was closed on Wednesday, and there was news that trading was suspended due to “unspecified external investment”.

Many Turks have regarded cryptocurrencies as lifeline Follow the plummeting valuation of the lira. In response, the central bank began to ban the use of Bitcoin and other cryptocurrencies to pay for goods and services. However, the disappearance of Ozer intensified calls for greater suppression.

The cryptocurrency after the disappearance of the founder has become the focus of attention

According to reports, after Ozer fled Turkey, the Turkish authorities were looking for him US$2 billion. Officials released a photo of the suspect, which passed passport control at Istanbul Airport. The media reported that he may have flown to Albania or Thailand.

The Thodex cryptocurrency exchange is carrying out a strong promotion, presumably to induce deposits on the eve of Ozer’s disappearance. Local media talked about one such promotion in which the company sold Dogecoin at a price below the market value. The condition of the promotion is that investors cannot sell immediately.

The victims of the export scam are filing a complaint in their local prosecutor’s office. However, given the unregulated nature of cryptocurrency exchanges in general, many people worry that their funds will be lost.

Prosecutor Arrest warrants for 78 people have been issued. So far, 62 people have been detained in an operation spanning eight Turkish provinces.

Thodex issued a statement saying that adverse reports about them are untrue. They insist that the site is closed because banks and other partners have expressed interest in investing in it.

After the site shut down in the middle of the week, users went to Twitter to express their concerns about the unavailability of their funds. Even in the early days, some people suspected that they were deceived.

Turkey bans the use of cryptocurrencies

Last week, the Central Bank of Turkey ban Use cryptocurrency to pay for goods and services. The action is a response to the increase of Turkish citizens’ turning to cryptocurrencies to hedge against the effects of inflation and the devaluation of the lira.

The bank stated that this is necessary because of the risk of lack of supervision and extreme volatility in cryptocurrencies. These restrictions will take effect at the end of this month.

“Neither is subject to any regulatory mechanism, nor is it subject to central regulatory agencies. Their market value may fluctuate greatly.”

Many people quell the move with excessive government actions. But Ozer’s disappearance will undoubtedly give Turkish President Recep Tayyip Erdo?an cheer to support his mission.

In this way, people’s attention has once again returned to the crypto exchange. Although the term (not your key, not your coin) is common, the victim only realizes this when it is too late.