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Last week the Thodex website froze. The company was claiming it could sell Dogecoins at one-fourth of its trading price on other cryptocurrency exchanges. It then locked in these investments. And would not allow the coins to be converted or sold.

There are reports that Thodex "temporarily" closed the platform to address an "abnormal fluctuation in the company accounts."

A Thodex company spokesman, possibly Ozer, denies all the allegations. And he says the problems they are having impacts 'only' 30,000 of its clients. 

The company further states that the inaccurate media reporting has ruined its reputation, making it impossible to continue operations.

"The allegations that [accounts of] 391,000 people disappeared after a loss of approximately $2 billion, which was [reported] to the public on 22.04.2021, are unfounded," the Thodex statement says. "It is necessary to make this statement in order to respond urgently to these claims that go beyond the limits of honesty and conscience."

With the founder on the run and their accounts frozen, many investors/users are in panic mode. The fear is that this could be a multi-billion dollar fraud. And regardless of the numbers, Thodex users are just hoping their money isn’t gone forever.

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