Albania has arrested the founder of cryptocurrency exchange Thodex who fled Türkiye and left users’ funds irretrievable, the Turkish Interior Ministry said on Tuesday.

Faruk Fatih Ozer, 27, who is sought on charges of fraud and founding a criminal organization, was arrested in the Vlore city. Türkiye had issued an international arrest warrant after he fled with a reported $2 billion (£1.4billion) in investors' assets last year.

A red notice was issued for Ozer on April 23, 2021 by Interpol.

Albania's Internal Affairs Minister Bledar Cuci informed his Turkish counterpart Suleyman Soylu that the fugitive, Ozer, was caught in Vlore and his identity was confirmed by biometric results, according to a Turkish Interior Ministry statement.

His extradition proceedings have been initiated by the Turkish police’s Interpol department, the statement said.

Since last year, a total of 68 suspects have been arrested in the country as part of an investigation into Thodex.

Also, a large number of digital materials and documents were seized during operations.

AA