CEO of the failed Turkish cryptocurrency exchange Thodex, Faruk Ozer, is arrested in Istanbul

In August of the previous year, Ozer was taken into custody in Albania as a result of an Interpol red alert issued against him.

According to a report from Turkey’s state-run news outlet aa.com on Thursday, Faruk Fatih Ozer, the creator of Thodex, one of Turkey’s major cryptocurrency exchanges, was extradited to Turkey and held by police upon arrival in Istanbul. Ozer is accused of operating a criminal organization and fraud, and he is the subject of extradition.

In August of the previous year, Ozer was taken into custody in Albania as a result of an Interpol red alert issued against him. After his cryptocurrency exchange was taken down unexpectedly a year ago, Ozer, the founder, and CEO of Thodex, escaped to Albania. More than 400,000 users were locked out of their deposits, preventing them from accessing a total of $2 billion worth of cryptocurrency.

The events that surrounded Thodex caused a sensation in Turkey, which has been using cryptocurrency as a kind of protection against inflation. At least 83 persons were arrested as part of the inquiry, including Ozer’s brother and sister as well as four other top workers.

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