The only way that the problem you're talking about can be overcome is if each individual are thinking or asking the right questions (if they know the right questions to ask) to someone who proposes them with something, so there's less likely people to fall prey to scams. But in truth though, I think it's difficult to get rid of fraudsters in the system, some appear legitimate at first and then when the right time happens that's when they show what they really are an defraud people. Two good examples of this is @Yogg and Bernie Madoff, they both came off as someone that was trustworthy but lo and behold, they decided to still scam people.

Such weird prison sentences are common in Turkey, for example in 2021 they put 1239 people (including 305 children between the ages of 12 to 17) in prison for "insulting the president"!

It is tough in most cases to detect this type of scams, we already have a history filled with big and small versions of them specially among the centralized exchanges that keep running away. The difficult part is of course because they don't look like scams since they are working fine until they run away!

I don't know much about laws and order in Turkey but are you saying that murders and rape penalties in Turkey are not this harsh compared to financial crimes? If this is true that that country sucks, but come to think about it, this man run away with his people's money, that's like destroying the lives of many Turkish citizen, now let's take this side by side with a rapist that have four or five victims, he will be fined and also sentenced, max of 15 years as I read after doing my own research, I am not saying raping is not a crime but I think it makes sense that the exchange CEO was given life imprisonment, there is more we might not know in this case, what if there are people who have committed suicide because they lose their hard-earned money to a criminal?

I think this punishment fits the crime, correct me if I am wrong in anyway, a rapist can still have a change of heart and I am not saying it's good that women or females get raped, but up to 15 years is good enough for this crime, that's enough time to mess with one's head and regret their decisions, but financial crime looks cheap in our eyes because we don't think about the mess, hundreds of thousands of people are ruined here, maybe even more.

Those years? How many times does he need to be resurrected? LOL 😆

I understand your mixed feelings about the sentencing of Faruk Ozer. It is certainly a shocking case, and it is understandable that you would feel embarrassed as a crypto fan. It is important to remember that Ozer is not the first person to commit fraud in the cryptocurrency space, and he will not be the last.

Actually, no one thinks twice when they commit crime and no punishment is enough for anyone to stop from it because absolutely everyone thinks that they are the only ones who won't get caught up by police.
Overall, government itself is a group of criminals. The problem is, this group of criminals want to have an exclusive access, control and power on everything. When there comes someone with its own plan to become a criminal in certain niche, if this person or group won't cooperate with government, will automatically turn into its enemy and will end up in prison.
I really hope that everyone knows that governments are actively into money laundering and illegal activities but they don't punish themselves but this is a different subject.
By the way, have you guys seen movie The Midnight Express? It's a very interesting old movie about what happens in Turkish prisons, watch it if you have a time, it's really a great movie.

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Guys, what's your opinion about prison system, is Turkish system better to lower crime rate in country or is Norwegian system far better and beneficial?

The media has always been like that, looking for loopholes to tarnish whatever positive image that's left of this industry. The media is quick to loud anything that cast aspersions on cryptocurrency but hesitant to write when it's good news. I ain't surprised about that. The only way you can embarrassed with such headlined news would be if you're in any way trying to prove a point to people that this industry is without blemish. I don't bother this day with such. However, let's face the fact. From what I read about the case, the Thodex boss committed the laundering and manipulative crimes years ago and ran away from the country. If this holds as truth, he should face the wrath of the law. There shouldn't be any emotions attached to it. A crime is a crime, it doesn't matter what colouration we give to it.

Criminals are clever. Most of them have a way of going under the radar. The best way to scheme them out will be to not be greedy in chasing ROI they always promise. Again, don't leave coins you can't avoid to lose of exchanges. As if there's any loss one won't feel its impact in a world where $5 means something 🙄

He was found guilty, there are more than 2 thousand victims, and he seems to think he's very smart and capable (so, no remorse, I guess), but I still don't get the sentence length. I mean, if it's a sentence for the rest of his life, he can be sentenced to life without the possibility of parole. Or to two life sentences. But thousands of years... I see that it's apparently common in Turkey, but still.
Also, while fraud is a crime, I'm not sure if I believe that it's such a huge crime, if it wasn't violent (and I assume it wasn't in this case because it's online). Does a person even deserve life imprisonment for that? Wouldn't it be better to force him to repay all the debt to the victims and serve a reasonable prison sentence?
As for identifying and overcoming such fraudsters in the future, it seems that the law enforcement is doing alright in that regard, and what people should do is avoid losing money on exchanges by simply never keeping a big amount on any exchanges, no matter how reputable they seem.

It has always been to adhere to security tips as anyone would say, but to identify and overcome such fraudsters who parade under the guise of a legit business may require instinct, background/thorough research and the knowledge of having a personal and offline cold wallet.
The Turkish government would have simply called his sentence a life sentence, since his offence is so bad that it could be compared to terrorism act. Such cases make what the U.S SEC regulators is probing in the instance of Binance, appear deeper than the eyes meet.

And how will this sentence stop the suffering of the one whoFTX had funds on Thodex?

Unlike Thodex victims who can only look at the guy going to jail and that's it at least the ones in FTX case do actually have a chance of getting their money back, FTX had 8.7 billion of customers' funds and 7 billion have been recovered, what do you yout hink people would want more 10 life sentences for SBF or their money?

This "peace of mind" you talk is so middle ages style!


Are we really comparing the indiscriminate killing of innocent civilians to a guy fucking up while running an exchange? Common!