On 4 August 2026, Wojciech Ługowski appeared on Biznes24 to discuss the case involving Zonda Crypto and the situation of individuals seeking to recover their funds. He addressed the scale of the proceedings, the challenges posed by cross-border money flows, the role of financial institutions, and the importance of MiCA regulations in protecting clients in the crypto market.
The proceedings are still ongoing. More affected individuals continue to come forward to the prosecutor’s office, while evidence is also being collected from EU and non-EU countries. According to current information, the funds involved in the case may amount to at least PLN 300–350 million. There have also been reports of approximately EUR 4 million being located in Luxembourg, France and Monaco.
Recovering funds may require legal action in several countries
As Wojciech explained, one of the key challenges is tracing the flow of funds. This requires obtaining information from law enforcement agencies, financial market regulators, banks and payment institutions operating across different jurisdictions.
The greater the number of transfers and the more borders the funds have crossed, the more complex the tracing process becomes. Where related entities operated in different countries, an investor may need to pursue legal action in several jurisdictions, resulting in additional costs and time.
MiCA, CASP and the protection of crypto clients
During the Biznes24 interview, Wojciech also highlighted the importance of the regulatory status of entities providing crypto-asset services.
A key distinction must be made between registration for AML purposes and authorisation to operate as a crypto-asset service provider (CASP). The MiCA Regulation introduced a harmonised regulatory framework for such providers across the European Union, including requirements governing their operations and the protection of clients’ assets.
Wojciech also addressed the role of banks and other financial institutions. The AML framework imposes obligations relating to customer identification, transaction monitoring and, in certain circumstances, transaction reporting. However, where complex structures involve multiple entities and jurisdictions, determining the true nature of financial flows can be particularly challenging.
The case discussed on Biznes24 demonstrates the importance of rules governing the protection of clients’ assets, the regulatory status of crypto-asset service providers, and cross-border cooperation between authorities and financial institutions.