There was no Rug-Pull on Theodex, rather a cyber attack- Fatih Faurk Ozer

There was no Rug-Pull on Theodex rather a cyber attack- Fatih Faurk Ozer

On Wednesday, trading on a crypto exchange platform, Theodex, a Turkish crypto currency exchange was halted. The CEO has denied the allegation that what caused the abrupt halt was rug pull and promised to return the money of those that invested.

The rationale for the abrupt halt of trading was to investigate abnormalities, which were considered suspicious in almost thirty thousand accounts of their customers, the aforementioned was said by Fatih Faurk Ozer, the CEO of Theodex. Though the reason of suspicious record wasn’t stated.

In an April 2018 cyber-attack, Theodex was attacked, of which about 25 million Turkish liras which was almost $6 million was carted away from the exchange and investigations shows that it was cyber-attack according to Ozer and which the company is yet to recover from.

The government is preparing to have Ozer extradited to Albania, where he fled and also the Turkish police detained sixty people and seized the Company’s computer and froze their accounts.

The company holds funds that are equivalent to customer’s original deposits on the exchange and in which despite the whole rancour, the customers will not be affected.

Mertcan Bayraktar, who represents seven investors, including one person with 3 Bitcoin ($150,000) locked up in Thodex, told Decrypt that Özer also owes customers any profits they made trading crypto. “But admittedly, it’s better than receiving no money back,” he said.

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