The president of the cryptocurrency platform Zondacrypto has left Poland for Israel, reportedly seeking protection from extradition as the company faces insolvency and criminal probes.
Zondacrypto Founder’s Departure
According to Onet, in recent years Kral avoided travel to Poland and resided in Monaco. He has now reportedly moved to Israel, where he believes he is protected from extradition by Israeli law, which does not surrender its citizens to foreign law enforcement.
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 entire board of the company resigning in recent days.
Website Shutdown and Communication Breakdown
The platform’s website and the president’s corporate email accounts have been deactivated. Kral has reportedly ceased responding to messages and has withdrawn from social media, where he previously posted updates on the company’s alleged temporary issues.
Two Investigations Launched in Katowice
Prosecutors in Katowice are conducting two separate investigations related to Zondacrypto. One concerns the criminal disappearance of the exchange’s founder, Sylwester Suszek, and the other is a financial investigation initiated recently by the Katowice Regional Prosecutor’s Office.
Suszek Presumed Dead, Investigation Stalled
Investigators believe Suszek is likely deceased, though the lack of a body or evidence of foul play may lead to the case being closed. Kral previously attempted to shift blame for the company’s financial troubles onto Suszek, alleging he had access to a wallet containing 4,500 bitcoins.
Internal Inquiry into Prosecutor’s Conduct
Onet reports that Kral was not questioned during the four-year investigation, despite his residence in Monaco not precluding questioning via legal assistance. The case is now subject to an internal review within the prosecutor’s office.
Prosecutor Removed, Oversight Reassigned
Prosecutor Marcin Rodzaj has been removed from the investigation, and oversight has been transferred to Beata Marczak, Deputy Prosecutor General responsible for combating organized crime and corruption. Additionally, a report from the ABW regarding the Russian origin of some Zondacrypto investments, previously mentioned by the Prime Minister in Parliament, has not been submitted to the Katowice prosecutor’s office.
Resignations and Notification to Estonian Authorities
The crisis surrounding the exchange is deepening with further internal decisions. Kral reportedly informed the team online, and employees subsequently received termination notices. The supervisory board of BB Trade Estonia OU, the platform operator, also resigned, and former board member Guido Buehler filed a notification with Estonian authorities regarding irregularities in the exchange’s operations.
Potential Losses Significantly Higher Than Reported
Unofficial estimates cited by Onet suggest that customer losses may be significantly higher than the previously reported 350 million złoty. Sources indicate that some victims may not report the losses to law enforcement.