PANews reported on May 9th that, according to Cryptopolitan, the actual controller of the recently collapsed European cryptocurrency exchange Zondacrypto is reportedly hiding in Dubai, and the exchange's customers may have lost more than $100 million. Polish media outlet Onet Wiadomości revealed that Zondacrypto's official head was in Dubai with a man nicknamed "Maniek," who is believed to be the true controller of the crypto business, while CEO Przemysław Kral was merely a "front man." Kral disappeared after reports surfaced that the company's reserves had fallen by more than 99%, and was previously thought to have fled to Israel, but is now confirmed to be in the UAE.

The exchange, formerly known as BitBay founded in 2014, was taken over by Kral in 2021 and renamed Zondacrypto, relocating its operations to Estonia. Polish media reports suggest the exchange may be controlled by the Russian Tambov Mafia, with approximately 30,000 Poles potentially victims. Initial estimates put the losses at at least 350 million zlotys (about $97 million), with the actual figure likely higher. Furthermore, founder Sylwester Suszek disappeared in 2022, and it is alleged that the key to a wallet containing 4,500 bitcoins, which he possessed, was never transferred.