Zondacrypto Compared to Amber Gold, Victims May Not Recover Assets

The case of Zondacrypto, a cryptocurrency exchange, is being compared to the Amber Gold scandal, a well-known financial pyramid scheme. Zondacrypto declared bankruptcy in the spring of 2023, with the official announcement made in the summer. Several individuals have been detained in connection with the case, including Przemysław Kral, the former president of Zonda, whose status remains unclear. Justice Minister Waldemar Żurek confirmed that Kral is not a crown witness and faces charges. Polish investors who lost assets must file claims with the Estonian trustee, which has sparked outrage from the Prosecutors' Association "Ad Vocem." Journalists from "Gazeta Polska" spoke with the Estonian trustee, who confirmed that the circumstances regarding the assets are being established. Attorney Michał Skwarzyński assessed that the chances of Zondacrypto clients recovering their funds are low, similar to the case of Amber Gold, where victims received only 10 percent of recognized claims. Amber Gold, which operated from 2009 to 2012, offered investments in gold without the necessary permits, leading to losses estimated at nearly 851 million zlotys.

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