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Turkish authorities Statement issued today Thodex founder Faruk Fatih zer has been arrested in Albania. The founder and CEO of troubled Turkish cryptocurrency exchange Thodex has been on the run since April 2021 after the exchange abruptly ceased operations and the CEO disappeared.
there is previous report A CEO could face up to 40,564 years in prison.
Faruk Fatih zer has come to Interpol’s attention for his role in the disappearance of Thodex overnight, leaving thousands of customers unable to access their accounts and funds.
After his arrest, Interpol began the process of extraditing Ozer to Turkey, where he is expected to face a tough legal battle.
Thodex was a well-known Turkish cryptocurrency exchange launched in 2017. However, the cryptocurrency exchange suddenly stopped trading in April 2021.
Initially, the cryptocurrency exchange cited unspecified external investments as the reason for the four-to-five-day suspension of trading activity. But the next day, zer said it had halted operations due to the cyberattack and even promised to refund investors soon.
When Thodex went bankrupt, Turkish police detained 62 people, seized the company’s computers, and froze the company’s accounts. By this time, Ozer had already found his way to Albania, and the Turkish government wanted him arrested and extradited to the country.
Faruk Fatih zer was arrested today in the Albanian coastal city of Vlore. Vlore is his third most populous city in the country.
The Albanian Interior Minister said Ozer’s identity had been confirmed using biometric results and he was awaiting extradition.
So far, the Turkish government has submitted a bill that seeks to establish new rules for the cryptocurrency industry.
