

Founder of Collapsed Turkish Crypto Exchange Thodex, Faruk Özer, Sentenced to 11,196 Years in Prison



The investigation also led to the detention of 83 individuals, with 16 of them acquitted while others received prison terms for their involvement in Thodex's collapse.
Summary
- Faruk Özer, founder of the Turkish crypto exchange Thodex, has been sentenced to 11,196 years, along with his siblings, and fined 135 million Turkish liras (about $5 million).
- Thodex ceased operations in April 2021, leaving 400,000 users with around $2 billion in losses.
- Özer fled to Albania but was apprehended in August 2022 and extradited to Turkey.
- The investigation implicated Özer's siblings and 83 individuals, resulting in various prison terms for their involvement.
Formerly popular among Turkish natives, Thodex ceased operations in April 2021, coinciding with the founder Faruk Fatih Özer's disappearance. The exchange’s collapse left more than 400,000 users grappling with the loss of access to their crypto holdings collectively valued at around $2 billion.
In a recent ruling by a Turkish Court, Faruk Özer, along with his siblings Serap Özer and Güven Özer, have been collectively sentenced to a staggering 11,196 years, 10 months, and 15 days behind bars. The trio has also been slapped with a hefty judicial fine of 135 million Turkish liras (equivalent to approximately $5 million).
Özer's escape to Albania proved short-lived as he was arrested in August 2022, courtesy of an Interpol red alert.
By April 2023, Özer was extradited to Turkey and into custody by the authorities, facing a litany of charges, including establishing and managing a criminal organization, being a member of an organization, fraudulent use of information systems in relation to banks or credit institutions, among others.
The investigation, which implicated Özer's siblings as well as four senior Thodex employees, led to the detention of at least 83 individuals. During the subsequent trial, 21 defendants were confronted with the prospect of up to 40,564 years in prison.
The Anatolian 9th Heavy Penal Court’s ruling on Thursday saw 16 of the 21 defendants acquitted, with four of the seven individuals previously detained released due to insufficient evidence. The remaining defendants received various prison terms for their involvement in the crypto exchange's downfall.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Time Running Out for BNB? Why Investors Are Moving from BNB to $NUGX

Investors are turning to NuggetRush (NUGX), a mining project offering a unique mining adventure game with potential rewards.
TLDR
- BNB faces potentially reduced investor sentiment following Binance Exchange’s links to money-laundering activities.
- Binance’s founder and former CEO, Changpeng Zhao, has already resigned.
- NuggetRush (NUGX) offers high entertainment and community collaboration in its mining adventure game.
Binance Exchange has been involved in money laundering scandals as of late, leading to the resignation of its founder as CEO. Analysts say the controversy would likely increase negative sentiment for BNB.
Disappointed BNB holders are now turning to NuggetRush (NUGX), a mining project whose ongoing presale has risen by 30%. NuggetRush (NUGX) offers various rewards, including the opportunity to win real gold.
Yet, can this make it the best option out of available new ICOs? Let’s discuss.
BNB November Gains Undone By Money Laundering Scandal
The bullishness in the crypto market in November increased investor sentiment for several networks. Like many top altcoins, BNB started November with a rally.
Yet, BNB’s investor sentiment dropped sharply following Binance’s controversial involvement in money laundering schemes. On November 28, Changpeng Zhao resigned as CEO of Binance due to negligent behavior toward money laundering activities.
BNB’s decline has undone all its November gains. At the start of November, BNB was trading at $228.00, By November 20, BNB had jumped by 11.24% to $253.64. BNB dropped $229.30 by December 2, a few days after Changpeng’s resignation.
Binance is among the most active exchanges, with a daily trading volume of over $50 billion. Still, the recent controversy around money laundering activities has reduced its social sentiment.
Many investors are pulling their funds off Binance, which has pushed its withdrawals over $1 billion. Analysts expect this trend to continue in the short term. This could worsen BNB’s prospects, dropping it by 15.8% to $213.45.
NuggetRush: Round 3 Growth Stuns P2E Experts.
NuggetRush is a mining game with strong potential to become one of the most popular NFT projects. The game features a mining rush, where players will mine rewards like gold. NuggetRush offers a challenging environment that features the day-to-day life of artisanal miners.
Players will dig shafts, set up tunnels, and use several real-world soil sampling techniques. The main goal is to set up a booming mining business. Players will find and excavate material rewards. In return, NuggetRush (NUGX) will give players NFT characters and mining equipment.
The game will also reward players with in-game currency. Players can then invest this in-game currency into upgrading their player characters and machinery. This gives them higher value, which players can realize on NuggetRush's (NUGX) marketplace.
Finally, NuggetRush offers NFT staking, thus allowing players to earn money from holding their assets. This further increases earning opportunities for NuggetRush members.
NuggetRush's blockchain ICO has grown by 30% since its launch. In the first round of NUGX's presale, its value was $0.010.
By round three, NUGX's value had risen to $0.013, growing by 30%. The next round of NUGX's presale would boost its value by 15.3% to $ 0,018. Furthermore, NUGX will get listed when its value reaches $0.020.
Visit NuggetRush Presale Website
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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