Thodex founder arrested in Albania

The founder and CEO of Turkish crypto exchange Thodex has arrested in Albania in connection with fraud allegations.

Faruk Fatih Özerhas was caught in Vlora by Albanian police, having been missing since April 2022 and incurring a prison sentence of 40,564 years for an alleged scam,

The process of extraditing the 28-year-old to Turkey has already begun and was initiated by the police crime organisation Interpol Department of the General Directorate of Security.

​”After many searches in several regions of the country, based on the information received on the operative route about the location of a person highly wanted by Turkish justice … Turkish citizen F.O., 28 years old, was arrested and detained”, a policeman said in a statement.

Last year the founder orchestrated a scam via Thodex which left 400,000 members without access to their funds.

Users were said to have deposited $2bn worth of cryptocurrencies into the exchange before it suddenly went offline, an act often known as an ‘exit scam’.

Turkish prosecutors have been looking closely into enforcing jail sentences to the founders and executives of Thodex for establishing a criminal organization and fraud through informatic systems and laundering proceeds from criminal activity.

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Written by Isabella Aslam


Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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