A bazaar in Adrianople. The merchants present their colored merchandise beside the female slaves’ trade. In the square comes a group of corsairs, led by Konrad. He meets the young Greek girl Medora, raised by the merchant Lankedem. Suddenly they become in love. Meanwhile, at the bazaar comes a palanquin with Seyd Pasha, which wants to buy slaves for his serail. His eyes rest on the beautiful Gülnara, but finally he is conquered by Medora’s charms. Seyd Pasha makes a deal with Lankedem so that Medora and Gülnara are sent to his serial. His plans are stopped by Konrad. The Corsairs kidnap Medora and the other slaves and sail to their island.
Konrad and Medora are at the pirates’ hiding place. The two lovers are happy and Medora changes her clothes with pirate’s one, enjoying freedom along her sweetheart. Konrad’s friend, Birbanto, brings in the captured slaves and the trembling Lankedem. The slaves beg Konrad for their freedom. At Medora’s plea, he consents, fact that displeases Birbanto and some of the corsairs. Konrad tells again the command and forces Birbanto to agree. Lankedem hears the quarrel of the corsairs, approaches Birbanto and suggest him a plan to retrieve the slaves and Medora: he puts a sleeping pill in the wine goblet and sends it to Konrad. Not long after he drinks from the goblet, he falls in a deep sleep. Medora’s efforts to wake up her lover are in vain. Suddenly, some masked figures come. Medora takes Konrad’s dagger and tries to defend herself, wounding in the fight the leader of the attackers. Eventually she is overwhelmed by their force and kidnapped.
In his palace, Seyd Pasha enjoys the company of the beautiful Gülnara. Some time after Lankedem and Medora come. Seyd Pasha is happy, also Gülnara, who glad to see again her friend. A group of pilgrims are stopping at the palace in their trip to Mecca and ask to stay overnight. Seyd Pasha not only accepts but also invites them to a feast in the palace’s gardens. Meanwhile, Konrad shows himself to Medora, letting go his disguise. The guests are the corsairs, which have come to rescue Medora. They provoke an ambush that makes Seyd Pasha flee from the palace. Gülnara asks Konrad to protect her from Birbanto, which follows her. Medora recognizes Birbanto after the wound that she made to him in the fight and tells Konrad about his treason. Birbanto tries to kill Konrad, but he is defeated.
The Corsairs go further to new adventures. Suddenly a storm begins and their ship disappears in the depths of the sea. After the nature calms, on a cliff, in the moonlight of the moon, are two outlines hugging themselves, Medora and Konrad.