bitcoin theft - Financial Fright

Case Studies

Thodex Scam: How 400,000 Users Lost $2 Billion Overnight

April 21, 2021. Turkey’s third-largest crypto exchange shut down without warning. The 27-year-old CEO disappeared. $2 billion vanished. 400,000 users locked out. Then came the selfie from Albania: “I’m not running. I’m working.” But Interpol disagreed. This is Thodex—the audacious exit scam that shocked a nation.

BBO
October 29, 2025

View Post

Case Studies

Mt. Gox Hack: The First Great Crypto Exchange Collapse

Mt. Gox CEO Mark Karpeles, holding a Magic card and looking oblivious while "850,000 BTC MISSING" flashes on burning control panels, symbolizing the incompetence behind the Mt. Gox hack.

850,000 Bitcoin. Gone. The world’s largest exchange. Handling 70% of all Bitcoin trades. Then one day, the CEO appeared in a video looking terrified. “We lost everything,” he said. $450 million vanished. Years later, those Bitcoin are worth $25 billion. And nobody knows who took them.