6:05 30 April 2026
Poland's biggest crypto scandal collapses into fraud probe
This is the dominant Polish business story of the week. Poland's largest cryptocurrency exchange Zondacrypto has seen its Bitcoin hot wallet balances collapse by 99.7% — from an average monthly balance of roughly 55 Bitcoin to just 0.086 of a coin — while over one million customers report difficulties withdrawing funds. Polish prosecutors have opened a criminal investigation on charges of fraud and money laundering, with estimated investor losses of at least 350 million złoty (approximately €83 million). The crisis has a political dimension: Prime Minister Donald Tusk told parliament that Zondacrypto financially backed lawmakers who opposed crypto regulation, and alleged the exchange maintains links to Russia. The entire supervisory board has resigned. The CEO, who claims the company is solvent, has reportedly left Poland for Israel. The missing key to a cold wallet holding 4,500 Bitcoin (worth approximately €290 million) belongs to founder Sylwester Suszek — who disappeared in 2022 and has not been seen since.
