Albanian court orders continued detention of fugitive Turkish crypto exchange founder

ELBASAN, Albania (AA) - An Albanian court on Friday decided to continue the detention of Faruk Fatih Ozer, founder of a now-defunct cryptocurrency exchange, after he was arrested in the city of Viore earlier this week.

Ozer, 27, sought on charges of fraud and founding a criminal organization, last year fled Türkiye, leaving investors unable to get their funds. Türkiye issued an international arrest warrant after he fled with a reported $2 billion in money investors poured into his crypto exchange, called Thodex.

In the city of Elbasan, Judge Elis Dine said Ozer's detention was legal and decided to continue it, adding that today's decision will help his extradition from Albania to Türkiye.

Speaking to journalists after the hearing, Ozer’s lawyer Sevgi Erarslan stated that her client will be in prison during the extradition process but that they will appeal the decision.

Since last year, 68 suspects have been arrested in Türkiye as part of an investigation into Thodex.