Polish prosecutors charge fifth suspect in a massive crypto probe
Polish prosecutors have charged Roman Ż., a former business partner of BitBay founder Suszek, as the fifth suspect in a massive crypto fraud and money laundering probe related to the collapse of the Zondacrypto exchange. The investigation, which has received over 3,600 complaints and involves estimated losses of $94 million, is also tied to Suszek's disappearance in 2022.
Why it matters
This case highlights the significant financial risks and regulatory challenges within the cryptocurrency sector, underscoring the importance of investor protection and the complexities of international investigations into crypto exchange failures and alleged fraud.
The move comes as authorities widen their investigation into the collapse of the exchange. Zondacrypto was founded as BitBay back in 2014, and had more than 1 million registered users when it rebranded in 2021.
Roman Ż. is at least the fifth person to be charged since prosecutors folded the case into the inquiry into Suszek's disappearance.
It later became Zondacrypto and stopped trading in April after customers reported frozen or delayed withdrawals . The exchange revealed payment delays for some clients in late February and suspended bitcoin deposits on March 17, citing market volatility, before its website went dark. Estonia's financial intelligence unit partially suspended the license of BB Trade Estonia OÜ, the entity behind the brand, barring it from taking in new assets.
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