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 victims and potential losses of at least 350 million Polish zloty (around $97 million), according to Notes from Poland, citing prosecutor spokesperson Michał Binkiewicz.
