Thodex's fugitive founder is captured, according to Albanian police.

Faruk Fatih Ozer, the 28-year-old fugitive founder of the Turkish company Thodex, was apprehended in Albania. The Turkish Interior Ministry confirmed the information on Tuesday (30 August).

Faruk Fatih Ozer reportedly left Turkey carrying $2 billion in investor monies. Later, in April of last year, Turkey issued a global arrest order for him. One of the greatest cryptocurrency frauds in history is thought to have occurred with Thodex. The founder of Thodex, who had also received a red alert from Interpol, was detained in Vlora. The "extradition processes to Turkey have been launched," according to the Ministry. According to media reports, Elbasan prosecutor Kreshnik Ajazi has stated that Ozer would appear in court soon to be sentenced to a 40-day "security measure," after which the extradition procedure to Turkey will begin.

Even before trading was halted, many people had doubts about Thodex.

Thodex allegedly launched aggressive marketing tactics to draw in investors. Initially, it made a bold advertising campaign starring well-known Turkish models its means of distributing premium vehicles. However, the Thodex exchange stopped trading in April after transmitting a cryptic message days earlier claiming that it would take five days to handle an unnamed foreign investment. Thodex experienced its last outgoing transaction on April 17, 2021.

Following the suspension of its services last year, hundreds of thousands of Thodex customers were put in a distressing scenario as they were unable to access their digital assets on the trading platform. Some claim that Turkish users of the platform who actively invested in the company were dubious of it even before the company stated on April 21 of last year that its services would be discontinued. This is due to the fact that the exchange had been consistently selling DOGE since April 14 at a price of $0.11. However, on April 16, DOGE's value on other markets rose to $0.42, prompting many people to wonder what was going on.

More than 60 suspects have been detained thus far in relation to the "scam"

Fraud and creating a criminal organisation are the charges brought against Faruk Fatih Ozer. More than 60 people have been detained throughout the nation since last year because of their connections to the business. During operations, the investing authorities also confiscated a sizable amount of digital materials and papers.