Cinkciarz.pl， As one of the largest currency exchange platforms in Central Europe, it is facing a serious crisis of trust and legal challenges. Recently, about 1200 customers have filed complaints with the platform, claiming that they are unable to withdraw their funds, resulting in their company accounts being frozen. Prosecutors are investigating allegations of fraud and misappropriation of customer assets.
The crisis at Cinkciarz.pl began in October 2024, when the Polish Financial Supervisory Authority (KNF) issued a warning and revoked the payment license of its affiliated company Conotoxia sp. z o.o. due to failure to properly segregate customer funds. KNF's action has sparked further scrutiny of Cinkciarz.pl, with investigations indicating that the 328 frozen company accounts may not be able to cover all customer claims.
Legal Litigation and Bank Conspiracy
Cinkciarz.pl, while facing customer complaints, accused almost all major Polish banks of involvement in a "conspiracy" and threatened to file a lawsuit totaling 6.76 billion zlotys (approximately 1.6 billion US dollars) against them. The company believes that this action aims to eliminate its position as a competitor to banks and has stated that it will take legal action against 11 banks.
Customer complaints and public response
The incident has attracted widespread public attention, especially after the famous Polish actress Anna Dereszowska publicly stated that she has been unable to retrieve 436000 zlotys (approximately $110000) since November last year. Many clients have shared similar experiences on social media. Despite Cinkciarz.pl claiming to have repaid 60% of customer payments and promising to resolve all outstanding debts by the end of 2024, a Facebook group called "Scammed by Cinkciarz.pl" on social media shows that many members are still waiting for refunds.
CEO and Bitcoin Assets
The investigation also found that Marcin Pi ó ro, the CEO of Cinkciarz.pl, personally holds about 492 bitcoins worth approximately 196 million zlotys (approximately $50 million). In response, the company management stated that these bitcoins belong to Pioro personally and have nothing to do with the company's financial situation. However, this discovery undoubtedly exacerbates external doubts about the company's financial management.
