A major scandal is brewing in Poland’s cryptocurrency market. Citing sources inside Zondacrypto, portal Money.pl reports that the company’s email and internal corporate communication channels are no longer working, while its president, Przemysław Kral, has stopped responding to employees, even though messaging apps show he was recently active.
Zondacrypto’s problems became public in early April, when clients began filing mass complaints about troubles withdrawing funds. On April 6, Money.pl reported that the disruption initially affected Bitcoin (BTC) withdrawals and later spread to Ethereum (ETH). CEO Przemysław Kral described the issue as a “technical problem” and said transactions were being processed manually. At the same time, the outlet published an analysis showing that the average volume of BTC held in the exchange’s wallets had fallen sharply, while assets worth more than 76 million zlotys ($21.1 million) had been transferred from the platform to an external address linked to another exchange.
From there, the situation deteriorated rapidly. On April 8, the Polish Press Agency (PAP) reported that Polish authorities had publicly warned customers about risks amid doubts over the exchange’s solvency, although Kral insisted that the company was “stable, solvent, and secure.”
By mid-April, the crisis had entered a phase of internal collapse. Money.pl reported that payments had stopped, layoffs were underway, and the company’s corporate email and internal communication channels had been shut down. Employees reportedly estimated the company’s possible liabilities at more than
500 million zlotys (around $139 million).
On April 17, Poland’s justice minister, Waldemar Żurek, announced the launch of criminal proceedings against Zondacrypto under provisions of the Criminal Code related to fraud and money laundering.
On April 21, major Polish daily Rzeczpospolita reported the resignation of the entire supervisory board of BB Trade Estonia OÜ, the owner of Zondacrypto.
Guido Buehler, a non-executive member of the supervisory board of BB Trade Estonia OÜ — Zondacrypto’s owner — published a statement on X:
“We are issuing this statement in light of the recent developments affecting the platform, including concerns regarding client withdrawals, asset accessibility, and the consistency of certain public communications.
This week, each member of the Supervisory Board independently submitted their resignation. These decisions were made individually and reflect each member’s assessment of the situation…”
Meanwhile, social media is seeing a growing number of posts claiming that funds held on the Zondacrypto exchange may have been lost. Users are being advised to take screenshots or photographs showing:
– Current cryptocurrency balances.
– Withdrawal history, especially in zlotys, U.S. dollars, and euros.
– The full history of all transactions.
At the same time, users are being warned that recovering these funds may prove extremely difficult. There is also speculation that exchange users could soon lose access to their data if the app stops working altogether.