Faruk Fatih Özer, the founder and CEO of the now-defunct [Turkish] crypto exchange Thodex, has been arrested… Özer fled following the collapse of Thodex in April 2021: he initially claimed a halt in trading was due to cyberattacks, and that investors' money was safe, before disappearing.

It subsequently emerged that, in April 2021, Thodex had moved approximately $125 million worth of bitcoin to the established US crypto exchange Kraken [with] investors in Thodex left with nothing.

Thodex was founded in 2017, and its initial success was largely down to the wider context of Turkey's state currency, the Turkish lira, undergoing a period of rapid inflation. This led to crypto acquiring mainstream traction in the country as an apparently more safe option than the fluctuating lira... It's a sobering reminder that…this company was not just defrauding big-pocketed investors but ordinary people looking to safeguard their financial future.

"A prison sentence of 40,564 years is sought for each of these 21 people, including Özer, as over 2,000 people are included in the indictment as complainants."

GGD wrote:
Maybe good behavior will shave a couple of years off of that.

TheCaber wrote:
Waiting For The Electrician Or Someone Like Him (1968,The Firesign Theatre)
(Yes, my youth was misspent)