A major financial scandal has erupted in Poland, potentially implicating leading politicians. The collapse of Polish cryptocurrency exchange Zondacrypto left thousands of clients unable to access their funds, prompting a Polish prosecutor’s office investigation into possible large-scale fraud and money laundering.
According to prosecutors’ estimates and investigative data, tens of thousands of people may have been affected, with losses estimated at at least 2.4 billion zloty (approximately 535 million euros). The case has already taken on a political dimension, as Zondacrypto actively funded various projects. On August 27, officers from the Central Bureau for Combating Cybercrime detained the head of the Polish Olympic Committee, Radosław Piesiewicz, on suspicion of accepting improper benefits from the exchange.
Prime Minister Donald Tusk described Zondacrypto as having «extremely sinister roots», linked to the disappearance or presumed death of the company’s founder, Russian mafia money, and the influence of Russian special services. The company’s history began in 2014 in Katowice, where Sylwester Suszek founded the cryptocurrency exchange BitBay. He became known as the «Polish king of cryptocurrencies», but in 2022, he disappeared under mysterious circumstances.
After a rebranding, leadership of the exchange passed to lawyer Przemysław Kral. According to the current management of Zondacrypto, the missing Sylwester Suszek may have access to a crypto wallet containing approximately 4,500 bitcoins, valued at hundreds of millions of dollars. The ongoing investigation is also examining possible links between Sylwester Suszek and individuals suspected of involvement in organized crime, financial fraud, and unlawful deprivation of liberty.
Crypto exchange’s ties to Polish elite
Large-scale fraud charges have already been brought against Przemysław Kral, who, according to media reports, is actively cooperating with the investigation. Detained Radosław Piesiewicz, politically close to the Law and Justice (PiS) party, is accused of accepting improper benefits, including a watch worth about 40,000 euros, as well as insider information that, according to investigators, allowed him to withdraw funds ahead of the exchange’s collapse. This case could even lead to the exclusion of Polish athletes from Olympic competitions.
Zondacrypto funded a number of projects tied to conservative circles, including the American conservative conference CPAC and the Republika TV channel. It also contributed about 70,000 zloty to support the «Good Government» foundation of Przemysław Wipper, a deputy from the far-right Confederation party. The largest official support went to the key opposition political force, Law and Justice (PiS).
Among those implicated and linked to the case are PiS politicians, including former Justice Minister and Prosecutor General Zbigniew Ziobro, who has traveled to the U.S., and his former deputy Marcin Romanowski, who is evading investigation. The crypto exchange transferred at least 450,000 zloty to Ziobro’s «Institute of Sovereign Poland» foundation.
Prime Minister Donald Tusk also came under fire after posting a photo on social media wearing a jersey of the Gdańsk club Lechia, which was sponsored by Zondacrypto. Opposition politicians are using this photo as evidence of the prime minister’s alleged ties to the exchange. The lawyer for Przemysław Kral is Roman Giertych, a deputy from the party of the current prime minister.
The leader of the Development Plus party, former Prime Minister Mateusz Morawiecki, supports the creation of an investigative commission to probe the case dating back to 2019. Meanwhile, PiS leader Jarosław Kaczyński criticized this proposal, suggesting instead the establishment of a «public trust commission» with 15 experts. These statements could backfire if media reports are confirmed that PiS deputy Michał Moskal, close to Kaczyński, flew to Ibiza to meet with Przemysław Kral and submitted amendments to draft laws favorable to the exchange.
President Karol Nawrocki under pressure
It cannot be ruled out that in opposing legislative changes, Zondacrypto may have had an even more influential lobbyist — the country’s president, Karol Nawrocki. The government of Donald Tusk twice attempted to pass a law regulating cryptocurrency circulation, aligning Polish legislation with the EU’s MiCA (The Markets in Crypto-Assets Regulation). However, each time the law, approved by the government majority, was vetoed by the president, and the coalition lacked the votes to override it.
Karol Nawrocki justified his position by the need to protect citizens and prevent excessive regulatory pressure on legitimate businesses. However, after the collapse of Zondacrypto, these decisions took on new political significance. Tusk stated that «the president’s insistence on vetoing a bill that could have protected Poles from abuse or the loss of their money… is a shameless and outright admission that they are playing into the hands of this company, ignoring that it is backed by dirty Russian money.»
The situation could have serious political consequences for Nawrocki. He categorically denies any personal connections with Zondacrypto and enjoys presidential immunity until the end of his term. However, if the investigation manages to obtain compelling evidence of a possible conspiracy between representatives of the Polish right and Zondacrypto, his «Teflon» ability — to maintain his rating despite scandals — may come to an end.
For the Polish right, this scandal could become a «black swan» that destroys its chances of winning the 2027 parliamentary campaign.
Source: Ukrainska Pravda
