Polish prosecutors have opened a criminal investigation into cryptocurrency exchange Zondacrypto, impacting thousands unable to access their funds, as a crypto asset bill remains blocked.
Zondacrypto Under Investigation for Fraud and Money Laundering
The Katowice Regional Prosecutor’s Office has initiated a criminal investigation into Zondacrypto regarding suspected fraud and money laundering, announced Minister of Justice and Prosecutor General Waldemar Żurek on Friday.
Increasing reports from Polish citizens unable to recover their funds have prompted the investigation, with concerns specifically directed towards the firm.
Sejm Fails to Override Presidential Veto on Crypto Asset Law
The Sejm again failed to override President Andrzej Duda’s veto of the crypto asset market law on Friday, falling short of the required 263 votes with 243 in favor, 191 against, and 3 abstentions.
The bill would have introduced supervisory measures, including granting the Polish Financial Supervision Authority (KNF) the power to halt public offerings of cryptocurrencies.
Rising Losses in Cryptocurrency Investments
Minister Żurek highlighted that 1,295 fraud cases involving investment platforms were closed in 2025 due to the inability to identify perpetrators, citing a lack of legal tools.
Since 2023, reported losses from various forms of cryptocurrency theft have reached 200 million złoty, escalating to 1.184 billion złoty when including investment scams and platform breaches.
Concerns Over Zondacrypto’s Liquidity and Founder’s Disappearance
Recent reports from money.pl indicate Zondacrypto, Poland’s largest cryptocurrency exchange, may be facing serious liquidity problems, with a 99% decrease in Bitcoin reserves.
Users are reporting difficulties withdrawing funds, and some sponsored clubs haven’t received payments for months, while over 76 million złoty has been transferred from Zonda to another exchange.
Minister Żurek also addressed the ongoing case of Sylwester Suszek, founder of BitBay (Zondacrypto’s predecessor), who disappeared in March 2022 under “extremely strange circumstances.”
Call for Expedited Investigation into Suszek’s Disappearance
The Minister of Justice emphasized the need to accelerate the investigation into Suszek’s disappearance, noting the unusual circumstances of his partner taking over the company with all assets and conducting business from abroad.
Presidential Veto Blocks Crypto Asset Law and KNF Oversight
Prime Minister Donald Tusk stated that the President’s veto of the crypto asset law has hindered the ability to thoroughly examine Zondacrypto’s documentation.
Estimates suggest up to 30,000 individuals may be affected.
This was the Sejm’s second attempt to override the President’s veto, following a previous unsuccessful vote in December. The government re-submitted the bill, which was passed in February, only to be vetoed again.
Arguments for and Against the Vetoed Legislation
The presidential office argued the bill contained excessive regulations and lacked necessary amendments proposed during the legislative process.
Government and coalition representatives contend the absence of the law creates legal loopholes and compromises consumer protection.
Purpose of the Crypto Asset Law: Implementing MiCA Regulations
The aim of the crypto asset law was to implement the EU’s MiCA (Markets in Crypto-Assets Regulation) regarding the cryptocurrency market.
The law would have introduced supervisory measures to prevent violations by regulated entities, including allowing the KNF to suspend public offerings of crypto assets.