Przemysław Kral, head of the collapsed cryptocurrency exchange Zondacrypto, has reportedly been charged with participating in an alleged large-scale fraud and is cooperating with Polish prosecutors in hopes of securing a reduced sentence. Prosecutors estimate that customers lost at least 2.4 billion Polish zlotys, or about $650 million, although earlier coverage put losses above 350 million zlotys, or approximately $96 million. Investigators allege that only part of customer funds was used to buy crypto while the remainder was transferred to private accounts controlled by exchange managers. Kral denies misappropriating funds and says access to about 4,500 Bitcoin in a cold wallet was supposed to be transferred by founder and former CEO Sylwester Suszek, who has been missing since 2022. The exchange shut down in April 2026 after withdrawal delays, a final freeze, and a 99.9% collapse in its ZND token, leaving hundreds of thousands of users unable to access funds. Polish authorities are also examining Zondacrypto’s political advertising and sponsorships, including CPAC Poland, while the case has been integrated into a wider organized-crime investigation.