Thodex Founder Found Dead in Turkish Prison Cell: Suicide or Cover-Up?

The crypto world just took another dark turn. Faruk Fatih Ozer, founder and former CEO of the defunct Turkish cryptocurrency exchange Thodex, has been found dead in his prison cell.

According to reports, authorities are investigating the possibility of suicide. The 30-year-old was discovered hanging in his cell at a maximum-security prison in Tekirdağ, northwest Turkey, on the morning of November 1st. Officials say there were no immediate signs of struggle, though investigations remain ongoing.

Ozer’s sudden death brings a grim end to one of crypto’s most infamous scandals, a story that shook Turkey’s financial system and left hundreds of thousands of victims behind.

Ozer founded Thodex in 2017, when he was just in his early twenties.

The high-school dropout quickly rose to prominence, marketing Thodex as Turkey’s next major digital asset hub. For a while, it worked. The exchange grew fast, attracting over 400,000 users at its peak.

Then in 2021, everything collapsed.

Thodex suddenly halted withdrawals and went offline, locking users out of their accounts. Within hours, panic spread, and billions in investor funds vanished.