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Head of troubled crypto exchange flees to Israel as Poland opens fraud probe: report

24.04.2026 13:40
The head of the troubled cryptocurrency exchange Zondacrypto has left Poland for Israel, where he holds citizenship and cannot be extradited, amid allegations of fraud, according to a report by Polish news outlet Onet.
The Polish Olympic Committee headquarters in Warsaw, which bears the Zondacrypto name. Polands Olympic chief has threatened to end the sponsorship deal if funds are not received by the end of April.
The Polish Olympic Committee headquarters in Warsaw, which bears the Zondacrypto name. Poland's Olympic chief has threatened to end the sponsorship deal if funds are not received by the end of April.Photo: PAP/Radek Pietruszka

Przemysław Kral departed last Friday, a source within Polish law enforcement told Onet.

Israel does not extradite its own citizens to foreign authorities, effectively placing Kral beyond the reach of Polish prosecutors.

Kral had reportedly been avoiding spending time in Poland for several years out of fear of arrest, and had been living in Monaco.

Liquidity problems

Zondacrypto, which has been the general sponsor of the Polish Olympic Committee since October 2025, is currently experiencing serious financial difficulties.

Polish prosecutors last week launched a criminal investigation into the exchange and say they are receiving several hundred complaints a day from affected customers.

Victims have been urged to prepare documentation –  including account screenshots, transaction histories and evidence of unprocessed withdrawals – before filing formal reports.

Kral has blamed the company's troubles on its founding president, Sylwester Suszek – originally of the exchange's predecessor, BitBay – who was reported missing in 2022.

In a recent video, Kral appealed to Suszek to hand over private keys to a cryptocurrency wallet holding 4,500 bitcoins, suggesting he may be in hiding.

According to Onet, investigators, however, believe Suszek was murdered – and suspect Kral is aware of this.

Prosecutors say the case will likely be dropped, as no body has been found and and no suspects have been identified.

Dubai connections?

Polish daily Rzeczpospolita reported that threads from the scandal also lead to Dubai, where shares in Zondacrypto were allegedly transferred to three companies in the United Arab Emirates, controlled through Luxembourg firms owned by Suszek.

Polish financial regulator KNF placed BitBay on its warning list in 2018, after Russian investors and outside funds appeared, allowing the loss-making firm to continue operating.

According to Rzeczpospolita, the UAE has become a hub for large-scale money laundering of funds originating from the East, used by Russian oligarchs to circumvent Western sanctions.

All three companies linked to Zondacrypto were established using so-called nominee directors and shareholders – a method described as typical of how Russian oligarchs conceal illicit funds.

(ał)

Source: Onet.pl, PolskieRadio24.pl