Polish Prosecutor Charges Fifth Person in BitBay Collapse Investigation

Prosecutors in Poland have charged another individual in connection with the collapse of crypto exchange BitBay, which rebranded as Zondacrypto in 2021. Roman Ż., a former business partner of Sylwester Suszek, the missing founder of BitBay, was arrested on Saturday and charged with two offenses, including fraud.

The charges come as part of a wider investigation into the collapse of Zondacrypto, which had over 1 million registered users at its peak. The exchange stopped trading in April after customers reported frozen or delayed withdrawals, leaving an estimated 350 million zlotys ($94 million) in losses.

Prosecutors merged the Zondacrypto investigation with their inquiry into Suszek's disappearance in August, suggesting that the circumstances surrounding BitBay's creation and operation could help establish what happened to him. Ż.'s lawyer has denied the charges, stating that his client had helped manage BitBay before its rebranding.

Police seized valuable watches and documents related to Zondacrypto during searches, with prosecutors citing concerns that Ż. would flee after learning of plans to travel to China.