The president of Zondacrypto, facing scrutiny over missing funds, has reportedly fled to Israel, a country with no extradition treaty with Poland.
CEO’s Flight and Israeli Protection
According to Onet, in recent years Kral avoided travel to Poland and resided in Monaco. He has now reportedly moved to Israel, seeking protection due to his citizenship there, as Israel does not extradite its citizens.
Government Response
Deputy Minister Czesław Mroczek stated that Poland has had “no good experiences” bringing individuals back from Israel. He emphasized the seriousness of the case, involving significant financial losses for investors and concerns about the source of funding for the business.
Zondacrypto on the Brink of Collapse
Media reports indicate that 99% of Zondacrypto’s bitcoin reserves have disappeared, and the exchange has halted customer withdrawals. The situation has rapidly deteriorated, with the initial reporting by Ireneusz Sudak of Wyborcza.biz.
Operational Shutdown and Management Resignations
The platform’s website and the CEO’s corporate email have been disabled. Kral has ceased communication and removed his presence from social media, despite previously claiming temporary issues. The entire company board has reportedly resigned.
Dual Investigations in Katowice
Prosecutors in Katowice are conducting two separate investigations related to Zondacrypto. One concerns the disappearance of co-founder Sylwester Suszek, and the other is a financial investigation initiated at the Katowice Regional Prosecutor’s Office.
Suszek’s Disappearance and Kral’s Allegations
Investigators believe Suszek is likely deceased, though the lack of a body may lead to the case being closed. Kral previously attempted to shift blame for the company’s financial troubles onto Suszek, alleging he controlled access to a wallet containing 4,500 bitcoins.
Internal Review of Prosecution Conduct
Onet reports that Kral was not questioned for four years, despite his residence in Monaco not precluding legal assistance. The case is now subject to internal review within the prosecutor’s office.
Prosecutor Removed, Oversight Reassigned
Prosecutor Marcin Rodzaj has been removed from the investigation, with oversight transferred to Beata Marczak, Deputy Prosecutor General responsible for combating organized crime and corruption. A report from ABW regarding the Russian origin of some Zondacrypto investments was reportedly not submitted to the Katowice prosecutor’s office.
Resignations and Notification to Estonian Authorities
Kral reportedly informed the team via the internet, followed by employee terminations. The supervisory board of BB Trade Estonia OU, the platform operator, also resigned. Former board member Guido Buehler has filed a notification to Estonian authorities regarding irregularities in the exchange’s operations.
Potential Losses Exceed Initial Estimates
Unofficial estimates suggest client losses may be significantly higher than the previously reported 350 million złoty. Some victims may not report their losses to law enforcement.
