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>>Monaco launches an investigation into Zondacrypto as Poland claims it operates as a pyramid scheme.

Monaco launches an investigation into Zondacrypto as Poland claims it operates as a pyramid scheme.

crypthub

about 1 hour ago

Monaco Money‑Laundering Probe

The Monaco prosecutor’s office opened a money‑laundering case against Zondacrypto after foreign media reports and a complaint. Investigators acted without an official request from Poland. The probe follows the exchange’s sudden collapse that affected users across Europe.

Collapse and Missing Funds

Polish outlets revealed clients could not withdraw assets as Zondacrypto’s crypto reserves fell 99% within months. The CEO admitted loss of 4,500 BTC (over $330 million) and blamed founder Sylwester Suszek for not handing over wallet keys. Intelligence reports link the platform to Russian organized crime, while its former owner disappeared in 2022.

Sponsorship Fallout

Zondacrypto had high‑profile deals in Monaco, including a lounge at AS Monaco’s stadium, the basketball team’s jersey, and the Top Marques super‑car show. After the scandal, all these partners are removing the exchange’s branding. The sponsorships were part of the platform’s strategy to expand beyond Poland.

Polish Political and Legal Reaction

Polish officials describe Zondacrypto as a pyramid scheme that financed opposition lobbying against stricter crypto rules. Justice Minister Waldemar Żurek called for investigations into fraud, money laundering, and illegal lobbying. Up to 30,000 Poles may have been harmed, prompting a draft law with tougher penalties for crypto scams.