Thodex

2017-01-01

Faruk Fatih Özer founds Koineks, the fourth cryptocurrency exchange in Turkey.

2020-03-01

Koineks is rebranded as Thodex.

2021-04-20

Thodex halts all trading and withdrawals; Faruk Fatih Özer departs Turkey for Tirana, Albania.

2021-04-22

Turkish public prosecutors open a formal investigation into Thodex following mass user complaints.

2021-04-23

Interpol issues a Red Notice for Faruk Fatih Özer at Turkey's request.

2021-04-01

Turkish financial crimes investigators freeze all remaining Thodex assets. 62 people, including Özer's siblings, are detained in Turkey.

2021-04-30

Central Bank of Turkey bans use of cryptocurrency as a payment method, citing risks highlighted by the Thodex collapse.

2021-09-01

Turkish authorities issue arrest warrants for Özer and 81 other individuals connected to Thodex.

2021-10-01

Turkey is placed on FATF's grey list for weaknesses in AML/CTF compliance.

2022-06-01

Turkey is removed from the FATF grey list after implementing improved AML/CTF frameworks.

2022-08-30

Albanian police arrest Özer in the coastal town of Himarë in an operation code-named 'Brain.'

2022-11-17

The Elbasan Court of First Instance in Albania grants Turkey's extradition request for Özer.

2022-12-30

The Durrës Court of Appeals upholds the extradition verdict after Özer's appeal.

2023-04-20

Özer is extradited to Turkey and detained in Istanbul, exactly two years after the Thodex shutdown.

2023-09-07

Istanbul court convicts Özer on charges of aggravated fraud, leading a criminal organization, and money laundering. He is sentenced to 11,196 years, ten months, and fifteen days in prison and fined 135 million Turkish liras. His siblings receive similar sentences.

2025-11-01

Özer is found dead in his cell at Tekirdağ F Type High Security Closed Penitentiary. Authorities report the apparent cause as hanging. Prosecutors open an investigation into the circumstances of his death.