Money
Turkish Crypto boss takes off with $2bn of funds
The CEO of a Turkish cryptocurrency exchange has gone missing, leaving thousands of investors worried their funds have been stolen.
Thodex says its platform has been temporarily taken offline to address a fluctuation in the company’s accounts.
Local media report the CEO of the crypto, Frank Faith Ozer, has fled to Albania, taking more than 2 billion dollars of investors funds with him.
More than 400,000 users may have been impacted.
The dangers of the poorly regulated crypto market couldn’t have been better illustrated than by the unfolding events amid a rout in Bitcoin. Turkish officials are now calling for rapid regulation of the market, with the central bank banning cryptocurrencies as a form of payment
On the flip side, there is also something for cryptocurrency investors to cheer. Canada’s 3iQ is planning to list its Bitcoin exchange-traded fund in Dubai.
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