Fatih Özer: The Man Who Robbed Turkey and Ran

Ran Turkey's largest exchange. Stole $2 billion. Fled to Albania. Got 11,196 years. Found dead in his cell.

Fatih Faruk Özer was the 28-year-old CEO of Thodex, Turkey's largest cryptocurrency exchange. In April 2021, with Turkey's economy in crisis and the lira in freefall, millions of Turks had turned to crypto as a hedge. Thodex was their platform of choice.

On April 20, 2021, Thodex suddenly halted all trading, citing a "partnership" deal that required a temporary pause. Then Özer disappeared. He'd already fled to Albania, reportedly carrying a backpack with thousands of dollars in cash. He left behind 391,000 users who couldn't access approximately $2 billion in deposits.

Turkey erupted. This was not abstract crypto wealth - it was Turkish citizens' savings during an economic crisis. Police raided Thodex offices and arrested dozens of employees, but Özer was gone. Interpol issued a red notice. Turkish authorities coordinated with Albanian police.

Özer evaded capture for over a year, hiding in Albania under various identities. In August 2022, Albanian police caught him in the coastal city of Vlorë. He was extradited to Turkey to face charges.

In September 2023, a Turkish court sentenced Özer to 11,196 years in prison - a symbolic number reflecting the severity of the crime under Turkish law (each victim's charge stacked). Several Thodex employees also received multi-thousand-year sentences.

On November 1, 2025, Özer was found dead in his prison cell at age 29. Turkish prosecutors investigated. Later reporting confirmed it as suicide. The man who stole $2 billion from 391,000 people and received an 11,196-year sentence did not survive two years of it. The funds have never been recovered.