Polish prosecutors have opened an investigation into cryptocurrency exchange Zondacrypto, alleging fraud totaling at least 350 million złoty and involving up to 30,000 victims.
Zondacrypto Under Investigation
The Katowice Regional Prosecutor’s Office launched an investigation last week into the cryptocurrency exchange, focusing on potential fraud and money laundering. Initial estimates place the damages at no less than 350 million złoty, a figure expected to rise alongside the number of affected individuals, currently estimated at around 30,000.
The investigation was initiated based on reports from victims and media coverage regarding difficulties with withdrawing funds. It encompasses an analysis of the exchange’s operations and financial transactions.
Special Prosecutor Team Assigned
National Prosecutor Dariusz Korneluk established a team within the Katowice Regional Prosecutor’s Office to lead the investigation. The team comprises three prosecutors with experience in similar cases, including the head of the Cybercrime Department of the Katowice Regional Prosecutor’s Office.
Missing Founder and Wallet Access
Zondacrypto holds a wallet containing 4,500 bitcoins, valued at over $300 million. However, according to Zondacrypto President Przemysław Kral, the keys to this wallet are held by Sylwester Suszek, the founder of BitBay—Zondacrypto’s predecessor—who has been missing since March 2022.
Suszek’s Disappearance and Related Investigation
Suszek, known as the “king of cryptocurrencies,” was last seen at a fuel company in Czeladź owned by Marian W. His mobile phone last registered a signal at that location. Surveillance cameras at the fuel depot reportedly malfunctioned for a period during the time of his disappearance.
Marian W. has been charged with unlawfully depriving Sylwester Suszek of his freedom in a separate investigation conducted by the National Prosecutor’s Office’s Śląsk division. This investigation is distinct from the economic issues surrounding the cryptocurrency exchange.
Kral’s Appeal for Suszek’s Return
Przemysław Kral stated that Suszek was scheduled to transfer the private keys to the bitcoin wallet but disappeared instead, and appealed for Suszek to fulfill the agreement and provide the keys. Kral emphasized that Suszek’s return would be the strongest evidence against accusations of his involvement in Suszek’s disappearance.
Political Disputes Over Zondacrypto and Crypto Asset Law
Prime Minister Donald Tusk stated on Friday that the Zondacrypto case “smelled” from the beginning. He declined to comment on Kral’s reported location in Israel and potential extradition proceedings, calling it a sensitive matter.
The Sejm again failed to overturn President Duda’s veto of the crypto asset law on April 17th. Prior to the vote, Tusk claimed that Zondacrypto’s success began in 2022 with a new leader and funding from Russian mafia sources, alleging the exchange sponsored political events and promoted specific political forces.
Nawrocki Defends Veto and Blames Tusk Government
Karol Nawrocki reiterated his support for the veto of the crypto asset law, stating that the Tusk government was responsible for the potential harm to 30,000 Zondacrypto investors. He suggested the government should have warned investors if it possessed information from Polish intelligence services.
