In recent years, the Internet and technology-dependent life has become a special kind of wealth Cryptocurrency (Crypto Currency). As time progresses, the rate of investment in digital currencies like Bitcoin, Ethereum is increasing all over the world. But at the same time, a class of people are trying to commit fraud using this popular topic, which sometimes makes headlines for cryptocurrency theft or scams. Many investors are also reported to have fallen prey to hackers in this way. But if you know the punishment for this kind of cheating, your eyes may roll up your forehead! In fact, there are punishments like fines, imprisonment, life imprisonment, death penalty in different countries. But surprisingly, a crypto scammer who was recently arrested in Turkey is facing the prospect of being sentenced to more than 40,000 years in prison by the country’s courts. Yes, I’m right!
The life expectancy is 100 years, but the sentence is thousands of centuries
According to a report by Digital Trends, a man named Faruk Fatih Ozer started a Turkish crypto exchange company called ‘Thodex’ in 2017. But last year i.e. 2021, he absconded after committing a two billion dollar (about Rs. 159.4 billion) scam. But now the founder of this cryptocurrency exchange has been arrested in Albania and is said to be facing 40,564 years in prison! Undoubtedly, this is a sensational news.
Millions of people have invested in Farooq’s cryptocurrency
It is reported that close to seven lakh people have invested in the Thodex crypto exchange company since its inception. The report claims that these people have invested in crypto mainly because of the Turkish currency’s decline, and Thodex has benefited. In that case, the company stopped all crypto-related work last year after a few years of launch and practically disappeared with investors’ money. It was soon after that that legal agencies started a crackdown on Thodex.
Farooq will be heard in Turkey
Note that during this scandal, the company first stopped working for about five days in the name of foreign investment. Farooq later claimed that the company had to stop trading altogether due to the threat of cyber attacks. But despite promising to keep the investors’ funds safe, the company loots their accounts and money. It means that Farooq and Thodex caused this scam quite regularly. When this incident came to light, the Turkish police took swift action and arrested several employees of the company. But at that time Farooq was able to escape and hide in Albania. But he was recently arrested, and will now stand trial in Turkey along with other Thodex employees.