Zondacrypto | Crypto

Polish prosecutors charged Romana Ż. with organized crime and misappropriation offenses involving $2.1 million in Zondacrypto user funds. Polish prosecutors investigating cryptocurrency exchange Zondacrypto, have formally charged an individual, identified as Romana Ż., with participating in an organized criminal group and allegedly misappropriating 7.8 million zlotys ($2.1 million) in user funds. Read more

Polish lawmakers failed to overturn a presidential veto of crypto legislation as the Zondacrypto investigation expands and its Estonian operator enters bankruptcy. Polish lawmakers have again failed to secure the three-fifths majority needed to overturn President Karol Nawrocki’s veto of legislation aimed at strengthening oversight of the country’s crypto market. The Sejm, Poland’s lower house of parliament, on Friday voted 241-198 in favor of overriding the veto, with three abstentions, falling 25 votes short of the 266 needed. The vote was yet another attempt to advance Poland’s crypto market rules after President Karol Nawrocki vetoed crypto legislation three times, arguing that the proposed rules would overregulate the industry. Read more

Polish Olympic Committee president Radosław Piesiewicz faces charges as prosecutors investigate his ties to collapsed cryptocurrency exchange Zondacrypto. Polish prosecutors charged the head of the Polish Olympic Committee in an investigation linked to defunct cryptocurrency exchange Zondacrypto. Authorities detained the committee’s president, Radosław Piesiewicz, in connection with the Zondacrypto probe, Poland’s Justice Minister and Prosecutor General Waldemar Żurek announced in an X post on Thursday. Żurek later said prosecutors charged Piesiewicz under two provisions of Poland’s Penal Code, involving allegations of influence peddling and favoring some creditors over others while facing insolvency. Read more

Przemysław Kral reportedly faces a fraud charge and is cooperating with Polish prosecutors as estimated customer losses reach $650 million. Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, has reportedly been charged with participating in an alleged large-scale fraud and has begun cooperating with Polish prosecutors. Kral is seeking a reduced sentence in exchange for testimony that could include details about Zondacrypto’s funding of right-wing politicians, Polish outlet Onet reported Monday. According to Onet, prosecutors estimate Zondacrypto customers lost at least 2.4 billion Polish zlotys ($650 million). Investigators said the exchange used only part of customer funds to buy crypto, while the rest was transferred to private accounts controlled by Zondacrypto managers. Read more

Estonia’s FIU has partially suspended BB Trade Estonia OÜ’s license, giving the Zondacrypto operator 30 days to fix compliance issues or risk full revocation. A European regulator has partially suspended the operating license of the company behind troubled crypto exchange Zondacrypto. The Financial Intelligence Unit (FIU) of Estonia partially suspended the license of BB Trade Estonia OÜ, operating under the Zondacrypto brand, according to a statement on Monday. According to the FIU, the company is now barred from accepting deposits and onboarding new clients, while existing users are still allowed to withdraw their funds. Read more

The news follows an investigation into the crypto exchange by Polish law enforcement officials and reports of customer withdrawal issues. Estonia's Financial Supervision and Resolution Authority (FSA), the country’s financial regulator, issued an investor warning for BB Trade Estonia OÜ, the company that operates the Zondacrypto digital asset exchange. The FSA said the company did not have a white paper listed on its website for the “TeamPL” crypto token listed on the crypto exchange, a violation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. According to the FSA:  The investor warning for Zondacrypto and its parent company. Source: Estonia FSA Read more

Polish prosecutors are investigating Zondacrypto over alleged fraud and fund access issues, while local media report that CEO Przemysław Kral is in Israel. Zondacrypto’s crisis deepened on Friday after Polish outlet Onet reported that CEO Przemysław Kral had gone to Israel as prosecutors investigate the exchange over alleged fraud and investor losses. According to the report, Kral has been in Israel for about a week and holds Israeli citizenship, a factor that could complicate any potential extradition to Poland. Polish authorities opened an investigation into Zondacrypto last Friday over alleged fraud and investor losses. Cointelegraph also confirmed that Kral’s email address, previously used to communicate with him, has become unavailable. The developments come a week after Kral admitted last Thursday that Zondacrypto’s cold wallet holding 4,500 Bitcoin was inaccessible, marking his last publicly known communication at the time of reporting. Polish prosecutors have identified several hundred possible victim...