Former BitBay Partner Charged as Zondacrypto Investigation…

Published: September 7, 2026 – 20:18 UTC

What Has Changed In The Zondacrypto Investigation?

Polish prosecutors have charged a former business partner of missing BitBay founder Sylwester Suszek as authorities deepen their investigation into the collapse of the crypto exchange later known as Zondacrypto.The suspect, identified as Roman Ż., was detained on Sept. 5 in Poland’s Silesian region. Prosecutors allege he participated in an organized criminal group and was involved in the misappropriation of 7.8 million zlotys, or about $2.1 million, in customer funds.He has been charged with two offenses, including fraud. Prosecutors have also asked the Katowice-Wschód District Court to place him in pretrial detention, arguing that he could flee or interfere with the investigation.Roman Ż. denied the allegations and gave investigators an extensive statement. His lawyer, Błażej Gazda, said the suspect previously helped manage BitBay before the business was renamed Zonda.The arrest makes him at least the fifth person charged since prosecutors combined the exchange investigation with the inquiry into Suszek’s disappearance.

How Large Are The Alleged Customer Losses?

Zondacrypto stopped trading in April after customers reported frozen or delayed withdrawals. The exchange had already disclosed payment delays for some clients in late February and suspended Bitcoin deposits on March 17, citing market volatility, before its website later went offline.Authorities estimate customer losses at no less than 350 million zlotys, roughly $94 million. More than 3,600 complaints had been submitted to prosecutors by June.Investigators are examining suspected large-scale fraud, money laundering and the possible diversion of customer assets. Prosecutors allege that funds entrusted to the exchange were misappropriated through unauthorized changes to computer records and interference with the processing and transmission of exchange data.About €4 million held in one bank account has also reportedly been frozen as part of the investigation.The exchange’s Estonian operator, BB Trade Estonia OÜ, faced regulatory action before its failure. Estonia’s financial intelligence unit partially suspended the company’s license and barred it from accepting new assets. The entity was later declared bankrupt in August, with its first creditors’ meeting scheduled for Sept. 17.

Investor Takeaway

The Zondacrypto case has moved beyond a failed-exchange investigation into a wider criminal inquiry involving alleged asset misappropriation, money laundering and multiple former associates. For creditors, the key questions are how much customer money can still be located and whether frozen or recovered assets will ultimately be available for repayment.

Why Is The Case Connected To Sylwester Suszek?

BitBay was founded in 2014 by Suszek and grew to more than 1 million registered users before rebranding as Zondacrypto in 2021.Suszek served as chief executive before leaving the company and disappeared in March 2022, several months after the rebrand. Prosecutors later merged the Zondacrypto case with the investigation into his disappearance, saying that examining how BitBay was created and operated could help establish what happened to him.The connection broadens the scope of the inquiry beyond the exchange’s recent insolvency. Authorities are now examining relationships among former managers, business partners and other individuals tied to the company over a much longer period.Police searching properties connected to Roman Ż. seized valuable watches and documents related to Zondacrypto. Prosecutors said they moved to arrest him after learning he planned to travel to China.His lawyer said the trip was for business and that he held a return ticket for Sept. 13. A court will decide whether he remains in custody while prosecutors continue their work.

Who Else Has Been Charged?

Roman Ż. is the latest suspect in a series of arrests tied to the exchange.Three people, including stock investor Rafał Z., Jaromira W. and Anna P., were detained on Sept. 2 and charged over allegations including money laundering, misappropriation of company assets and participation in an organized criminal group. A court ordered all three held in pretrial detention for up to three months.Prosecutors have also charged Radosław Piesiewicz, president of the Polish Olympic Committee, with paid protection and with favoring one group of Zondacrypto creditors over others as the exchange moved toward insolvency. He has denied wrongdoing.The growing number of suspects suggests prosecutors are examining whether the exchange’s failure resulted from a coordinated pattern of conduct rather than a single liquidity event.For former customers, the criminal case and bankruptcy process are now moving in parallel. The next major developments will be the court’s decision on Roman Ż.’s detention, the Sept. 17 creditors’ meeting and any further disclosures about the location of customer assets.

Source: FinanceFeeds