Polish Court Detains Fifth Suspect in €94M Crypto Fraud Probe
A Polish court has approved pretrial detention for a fifth suspect in the Zondacrypto investigation, marking another escalation in what is becoming one of Europe's largest crypto fraud cases.
The suspect, Roman Ż., faces charges of membership in an organized criminal group and computer fraud tied to the misappropriation of at least 7.8 million złoty, roughly $2 million, from client funds.
The total client losses linked to the collapsed exchange are estimated at no less than 350 million złoty, approximately $94 million. Over 3,600 formal complaints have been filed.
Zondacrypto started life as BitBay back in 2014, eventually rebranding in 2021. At its peak, the platform boasted more than 1.3 million registered users, making it one of Poland's most prominent digital asset exchanges.