Thodex CEO, Faruk Fatih Ozer.
- Around 400,000 users of a Turkish crypto exchange have filed a criminal complaint against their CEO.
- They fear thousands of dollars’ worth of investments could be missing after the site closes.
- CEO Faruk Fatih Ozer flew from Istanbul on Wednesday.
- For more stories, see Business Insider.
Several users of the Turkish cryptocurrency exchange Thodex fear that their millions of dollars in investments could be missing after they cannot access their accounts or withdraw their funds from the platform.
A lawyer representing them filed a criminal complaint against its CEO on Wednesday, according to multiple reports after Thodex posted a statement on its website that it would remain closed for four to five days to evaluate a partnership offer.
“World-famous banks and funds, the names of which we will announce after the conclusion of the contract, have long wanted to invest in our company and proposed a partnership,” said a statement from the company.
“In order for this process to complete, transactions must be stopped and the sales process must be completed.”
Many users tweeted that they could not access their accounts and feared they would be victims of fraud, Reuters reported, citing Turkish media. Oguz Evren Kilic, a lawyer, said he was contacted by users on Wednesday and a criminal complaint was filed on everyone’s behalf.
According to Kilic, Thodex had 400,000 users, of whom 390,000 were active. He told Bloomberg that CEO Faruk Fatih Ozer flew on a commercial flight from Istanbul on Wednesday night and failed to respond to multiple phone calls.
A photo of Ozer leaving Istanbul was released by the Turkish news agency Demiroren.
Last month Thodex promoted a campaign to increase its user base by announcing a giveaway of 4 million Dogecoins. However, according to Bloomberg, several users tweeted that they didn’t get the meme currency after all.
According to the Anadolu Agency, a prosecutor’s office in Istanbul has launched an investigation against Thodex. Only an explanation of the alleged sales process is currently displayed on the company’s website. It also tells users not to fall for “negative news on the internet” about Thodex.
Turkey banned the use of cryptocurrencies effective April 30th just last week, stating that they could cause non-recoverable losses to the parties involved. According to the new rules, citizens can still own crypto, but not use it to make payments for goods and services.
Insider was unable to contact Ozer for comment.