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Polish Prime Minister Donald Tusk is taking decisive action. He accuses an organized corruption system between the nationalist Law and Justice party (PiS) and Zondacrypto, a cryptocurrency platform that was shut down in April. The PiS, which governed Poland from 2015 to 2023, is now in opposition—and evidently in turmoil.
Zondacrypto, formerly known as Bitbay, closed its doors in April, leaving thousands of creditors in the lurch. The total loss: 350 million zlotys, approximately 83 million euros. Its founder, Sylwester Suszek, has been missing since 2022. No trace, no public explanation. His successor as head of the platform, Przemyslaw Kral, has left Monaco to seek refuge elsewhere—either in a Gulf country or Israel, according to available information. Kral is said to have negotiated with Polish justice to obtain the status of a witness for the prosecution. A deal that, if confirmed, could open up significant parts of the investigation.
Arrests, Gifts, and Reclaimed Immunity
Radoslaw Piesiewicz, president of the Polish Olympic Committee, has been arrested. Charged with influence peddling, he is accused of receiving gifts from Kral and, notably, of reclaiming his investments in Zondacrypto despite the platform’s collapse. In other words: he gets off, while the small creditors do not. Not exactly the kind of fair treatment that the 83 million euros in losses call for.
Other names are circulating. Zbigniew Ziobro, former Minister of Justice, is mentioned in the case—he is reportedly in the United States. His deputy minister, Marcin Romanowski, is suspected to be in Transnistria, an unrecognized territory wedged between Moldova and Ukraine. These two figures are close to the PiS. Their absence from Polish territory seriously complicates the work of investigators, who are seeking testimonies and concrete evidence.
Several Polish sports federations are demanding a change in leadership at the Olympic Committee. Frustrated by the lack of transparency and unfulfilled promises, they are waiting for concrete answers. It is not yet clear if they will get them.
PiS Under Pressure, Crypto in Parliament’s Crosshairs
The timing is tough for the PiS. Just over a year before the legislative elections, this scandal comes at the worst moment. The party is already experiencing serious internal tensions—divisions over strategy in dealing with far-right groups have already led to the departure of several MPs. And now, a crypto corruption affair adds to the picture.
The prosecutor’s office is also investigating the links between Zondacrypto and nationalist entities. The television channel Republika is under scrutiny for its alleged connections with the platform. The extent of Zondacrypto’s influence in the Polish media landscape is probably one of the most sensitive points of the entire investigation.
And then there’s the CPAC conference. Held in May 2025 in Poland, it is under the authorities’ watch. Why? Because it took place shortly before the presidential election won by Karol Nawrocki, elected with the support of the PiS. Investigators are trying to understand if Zondacrypto had ties to this American conservative event organized on Polish soil, and if these ties had a real political impact.
Nawrocki, for his part, complicates the life of the Tusk government. As the elected president, he has regularly vetoed laws aimed at regulating the cryptocurrency market. The result: protective measures for investors postponed, delayed, blocked. And now, it is precisely this regulatory void that is at the heart of the scandal.
A new parliamentary vote on cryptocurrency regulation is expected. Things are changing quickly, politically speaking, and the pressure is mounting on both sides—on the government to act, on the PiS to defend itself.
The PiS also accuses Brussels of political manipulation, further straining relations between Warsaw and the European Union. The Zondacrypto affair is no longer just a story of crypto and local corruption—it touches on geopolitics, media, sports, and the financial regulation of an EU member state.
Kral on the run, Suszek missing since 2022, Ziobro in the United States, Romanowski likely in Transnistria. Four key players, four different countries. The Polish investigation faces borders that investigators cannot cross alone.
Frequently Asked Questions
What is the financial damage caused by the closure of Zondacrypto?
The closure of Zondacrypto left an estimated damage of 350 million zlotys, approximately 83 million euros, spread across thousands of creditors.
Who is Radoslaw Piesiewicz and why is he arrested?
Radoslaw Piesiewicz is the president of the Polish Olympic Committee. He is charged with influence peddling, accused of receiving gifts from Przemyslaw Kral and reclaiming his investments in Zondacrypto despite the platform’s collapse.
What role does the CPAC conference play in the investigation?
The CPAC conference, held in May 2025 in Poland shortly before the presidential election won by Karol Nawrocki, is being examined by authorities for its alleged links with Zondacrypto and their possible impact on the Polish political scene.
Why It Matters
This scandal highlights the vulnerabilities within the cryptocurrency sector, particularly in regions with less regulatory oversight, as seen in the collapse of Zondacrypto. The intertwining of political corruption and financial mismanagement could undermine public trust in both the crypto market and government institutions, potentially leading to stricter regulations that may impact future crypto ventures in Poland and beyond. As the situation unfolds, it serves as a cautionary tale for investors about the risks associated with unregulated crypto platforms.
