The death of Thodex founder Faruk Fatih Özer has reignited focus on the $2 billion exit scam that led to significant regulatory changes in Turkey's cryptocurrency landscape. Özer, who was serving an 11,000-year sentence, was found dead in prison on November 1. His demise concludes a saga that spurred Turkey to implement a comprehensive legal framework for cryptocurrencies. In response to the Thodex scandal, Turkey introduced a Central Bank payment ban, expanded anti-money laundering laws, and a 2024 licensing regime for crypto exchanges. These measures were instrumental in removing Turkey from the FATF gray list and establishing it as the largest crypto market in the Middle East and North Africa by 2025.