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Turkey and Bitcoin, the case of the Thodex exchange

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There is no peace for Bitcoin enthusiasts in Turkey. After the controversial Central Bank ban, the case of the Thodex exchange it's causing a stir these days.

Active since 2017, in recent days, that is, a short distance from the prohibition of cryptocurrencies as a means of payment, one of the most used exchanges in the country has been suddenly become inaccessible. A press release appeared on Thodex's homepage informing users that due to a major partnership, the platform would be offline for a few days.

Nothing abnormal, service interruptions may occur, particularly in the case of maintenance. However, the Thodex case has made users suspicious and alarmed as, apparently, there was no advance notice, which meant that users found themselves unable to withdraw their deposited funds.

The fact is that this stop comes at a very delicate moment in the market, with Bitcoin going from records close to $ 65,000 to the current $ 49,000 in the space of a few days. In short, as if the sales panic not enough, Thodex users are also experiencing the helplessness of not being able to do anything with your funds.

Thodex clarification and the impact on the future of Bitcoin in Turkey

In reality, the Thodex website refutes all the speculations circulating that Thodex managers are running an exit scam. Someone who does not sign their name on the site, probably the administrator Faruk Fatih Ozer, has posted a letter on the home page reiterating that it is looking for investors.

However, according to news agencies, 62 people were arrested on Friday in Turkey In connection with this case, it could turn into a $ 2 billion fraud. Faruk Fatih Ozer is missing.

The official Twitter profile says something else: Faruk Fatih Ozer claims that all users' money stops on the platform and it even guarantees that it will return the money deposited in Thodex to each user within a few days. The tweetstorm, written in Turkish, also states that users will receive the balance they had at the time of the shutdown of the platform so that they are not affected by the losses in value that are affecting the cryptocurrency market.

All that is left is to wait and see if and when this will happen. The truth is that the case opens yet another wound between Turkey's regulators and cryptocurrencies. And now Bitcoin users fear that the legislation will become even stricter.



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