The former CEO of Zondacrypto, one of Poland’s most prominent cryptocurrency exchanges, is now cooperating with prosecutors in a bid for a lighter sentence as authorities unravel what appears to be one of Europe’s largest crypto fraud cases.
Przemysław Kral faces charges of large-scale fraud and is working with the Regional Prosecutor’s Office in Katowice under Poland’s Article 60 sentencing mechanism, a legal tool designed to incentivize defendants to provide information about co-conspirators in exchange for reduced penalties.
A $650 million hole and a vanishing founder
Customer losses initially estimated at around 350 million PLN, roughly $80 million to $97 million, have now swelled to approximately €560 million, or around $650 million. Over 3,600 complaints have been filed with prosecutors, and the victim count stretches into the tens of thousands.
The exchange’s website went dark in April 2026. Its Estonian operating license was suspended the following month and formally revoked on June 29, 2026.
