Turkish cryptocurrency boss arrested in Albania

The founder of a cryptocurrency exchange Thodex, suspected of having fled Turkey with the assets of his clients, has been arrested in Albania, the Turkish Interior Ministry said on Aug. 30. 

Türkiye issued an international arrest warrant in April last year for fugitive businessman Faruk Fatih Özer, who fled with a reported $2 billion in investors' assets.

Albania informed the Turkish interior minister "that the founder of Thodex, the fugitive Faruk Fatih Özer, wanted with a red notice (by Interpol), was arrested in Vlora, Albania," the ministry said in a statement.

The statement said that "extradition procedures to Türkiye have been initiated."

Thodex launched aggressive campaigns to lure investors. It had first pledged to distribute luxury cars through a flashy advertising campaign featuring famous Turkish models.

But the Thodex exchange suspended trading in April after posting a mysterious message days earlier saying it needed five days to deal with an unspecified outside investment.

Turkish security officials then released a photo of Özer going through passport control at Istanbul airport on his way to an unspecified location. Media reports said the exchange shut down while holding at least $2 billion from 391,000 investors. More than 60 people linked to the company were arrested.

cyrpto, Currency,