Zondacrypto CEO in Israel as Poland probes $97M cold wallet

Polish prosecutors have opened a fraud investigation into cryptocurrency exchange Zondacrypto after chief executive Przemysław Kral left Poland for Israel. Prosecutors report the case centers on a cold wallet holding 4,500 bitcoin that Kral acknowledged as inaccessible and on at least 350 million Polish zloty in losses, about $97 million. Authorities estimate up to 30,000 users may be affected.

Polish officials say Kral traveled to Israel roughly a week before the probe began. His last public communication confirmed the cold wallet could not be accessed; he has not issued further statements since. Authorities have confirmed he holds Israeli citizenship, which limits options for extradition under Israeli law.

Deputy Interior Minister Czesław Mróczek commented on the legal difficulty, stating: “Poland has no experience handling extradition requests of this kind.” Prosecutors add that Israel generally does not extradite its own citizens, and they have not disclosed whether they have filed an international arrest warrant or requested an Interpol notice.

Zondacrypto was one of Poland’s larger cryptocurrency trading platforms before internal disclosures revealed reserve shortfalls and governance problems. The exchange has not issued a public response to the criminal probe or to reports about Kral’s relocation.

Prosecutors are compiling lists of potential victims and are examining the platform’s controls and the flow of assets to determine whether customer funds were mishandled or misreported. No timeline has been provided for when users might regain access to funds held on the platform.

Investigators note that access to custodial keys for the cold wallet and cooperation from authorities in other jurisdictions will affect any recovery of assets. Prosecutors are urging anyone affected to provide transaction records and communications with Zondacrypto to assist the inquiry.