Polish prosecutors have launched an investigation into cryptocurrency exchange Zondacrypto, alleging fraud amounting to at least 350 million złoty and potential money laundering.
Zondacrypto Under Investigation
The Katowice Regional Prosecutor’s Office initiated an investigation last week into the cryptocurrency exchange, focusing on potential large-scale fraud and money laundering. Initial estimates place the damages in the Zondacrypto case at no less than 350 million złoty, a figure expected to rise alongside the number of victims – estimated at around 30,000.
The investigation stems from complaints filed by those affected and media reports concerning 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 controls a wallet containing 4,500 bitcoins, valued at over 300 million dollars. 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 April 16th.
Suszek’s Disappearance and Related Investigation
Suszek, known as the “king of cryptocurrencies,” disappeared in March 2022 at the age of 33. He was last seen at a fuel company in Czeladź, owned by Marian W., where his mobile phone last registered a signal. Reports indicate that surveillance cameras at the fuel depot were temporarily disabled on the day of his disappearance.
In a separate investigation into Suszek’s disappearance, led by the National Prosecutor’s Office’s Śląsk division, Marian W. has been charged with unlawfully depriving Sylwester Suszek of his freedom. This investigation is separate from the economic issues surrounding the cryptocurrency exchange.
Kral’s Appeal for Suszek’s Return
Kral stated that if documents show Suszek was supposed to transfer the private keys to the address, his disappearance is a strong argument against any involvement in his disappearance. He appealed to Suszek to fulfill the agreement and provide the private keys.
Political Disputes Over Zondacrypto and Crypto Asset Law
Prime Minister Donald Tusk stated on Friday that the Zondacrypto case “smelled” from the beginning. When asked about Kral’s reported location in Israel and potential extradition, Tusk described it as a delicate matter.
On April 17th, the Sejm again failed to override the President’s veto of the crypto asset law. Tusk, speaking before the vote, claimed that Zondacrypto’s rise began in 2022 with a new leader and funding from Russian mafia, according to Polish intelligence. He alleged that Zondacrypto sponsored political and social events in Poland, promoting specific political forces.
Nawrocki Defends Veto and Blames Government
Karol Nawrocki stated on the same day that he did not regret vetoing the crypto asset law. He attributed the potential harm to 30,000 individuals affected by Zondacrypto to the Tusk government, suggesting they should have warned investors if they had intelligence from Polish services.