Zondacrypto boss seeks leniency for testimony on political ties: Report

Przemysław Kral reportedly faces a fraud charge and is cooperating with Polish prosecutors as estimated customer losses reach $650 million.

Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, has reportedly been charged with participating in an alleged large-scale fraud and has begun cooperating with Polish prosecutors.

Kral is seeking a reduced sentence in exchange for testimony that could include details about Zondacrypto’s funding of right-wing politicians, Polish outlet Onet reported Monday.

According to Onet, prosecutors estimate Zondacrypto customers lost at least 2.4 billion Polish zlotys ($650 million). Investigators said the exchange used only part of customer funds to buy crypto, while the rest was transferred to private accounts controlled by Zondacrypto managers.