Conotoxia
Cinkciarz.pl CEO Fraud Charges Expand to 150 Million as Court Rejects Appeals, Upholds Account Freezes
- The Polish prosecutors broaden the case against the CEO of FX fintech as the damage estimate climbs.
- Multiple victims have been added to the indictment, while the executive continues to deny involvement on social media from abroad.
Tuesday, 30/09/2025 | 10:52 GMT by
Damian Chmiel
Cinkciarz.pl CEO's International Manhunt Begins After Alleged $28M Fraud
- Polish prosecutors issue an arrest warrant for Marcin Pióro as the currency exchange scandal deepens.
- Investigators received over 7,000 complaints from clients who were unable to withdraw their funds.
Monday, 04/08/2025 | 06:34 GMT by
Damian Chmiel
Cyprus Regulator Suspends Conotoxia Ltd’s Investment License Over Compliance Gaps
- The regulator has given Conotoxia one month to address the identified breaches; failure to comply may result in permanent license revocation.
- At the time of publication, the cinkciarz.pl and conotoxia.com websites appear to be offline.
Wednesday, 23/07/2025 | 13:15 GMT by
Jared Kirui
Cinkciarz.pl Chief Accountant Arrested in Alleged $25M Fintech Fraud Case
- Polish authorities arrested the fintech's chief accountant on charges of misusing funds intended for currency exchange services.
- The investigation continues as the company's CEO remains outside Poland while facing similar charges.
- With more than 2,000 customer complaints filed, the case represents one of Poland's largest fintech fraud cases.
Thursday, 05/06/2025 | 08:31 GMT by
Damian Chmiel
Cinkciarz.pl Former Board Member Detained for 3 Months in Alleged $12 Million Fraud Investigation
- The prosecutor's office and police have announced that Robert Górny has been questioned and temporarily detained.
- Charges have also been brought against CEO Marcin Pióro; however, he is currently abroad.
- In just six months, Cinkciarz.pl's troubles escalated from losing its license to facing the risk of up to 25 years behind bars.
Friday, 14/03/2025 | 08:40 GMT by
Damian Chmiel
Conotoxia Files Complaint Against Poland in the US, Claims Losses of “At Least Several Billion Zlotys”
- The fintech has filed a complaint with US law enforcement against Polish financial regulators, alleging abuse of power.
- This escalation follows the company's defeat in Polish courts over the revocation of its payment services license.
Tuesday, 11/03/2025 | 09:25 GMT by
Damian Chmiel
Cinkciarz.pl Loses Dispute with KNF, Accuses Court of Protecting “Civil Service Caste” in Poland
- Conotoxia (Cinkciarz.pl) strongly criticizes a court decision upholding the revocation of its payment license.
- The company highlights concerns about the state of Poland's legal system and regulatory practices in the fintech sector.
Thursday, 06/03/2025 | 08:38 GMT by
Damian Chmiel
Cinkciarz.pl Allegedly Seeks Customer Payments Despite Inability to Process Currency Exchanges
- The fintech is demanding customers pay for currency transactions despite account freezes preventing the company from fulfilling these exchanges.
- Legal experts question the validity of the demands, as the company faces mounting financial challenges after years of reported losses.
Thursday, 27/02/2025 | 10:27 GMT by
Damian Chmiel
Polish Prosecutor Denies Conotoxia's Claims: No Investigation Against KNF
- Conotoxia claimed that an investigation had been launched against the KNF in connection with the alleged abuse of power.
- However, the prosecutor's office has completely denied these reports, stating that the fintech's request was rejected.
Thursday, 20/02/2025 | 14:21 GMT by
Damian Chmiel
Poland's KNF Under Investigation for Alleged Regulatory Breach
- Polish prosecutors launch an investigation into the KNF following complaints from Conotoxia Holding over alleged abuse of power.
- Meanwhile, since October, the prosecutor's office has been conducting a separate investigation into the activities of Cinkciarz.pl.
Thursday, 20/02/2025 | 12:19 GMT by
Damian Chmiel
KNF Flushed Their License Down the Toilet, Now Cinkciarz.pl is on a Roll with Revenge
- The biggest Polish online currency exchange mocks regulator with KNF-branded toilet paper after losing payment license.
- The watchdog calls it a “public stunt” and “inconsistent” with the seriousness of the situation faced by the fintech's clients.
Wednesday, 19/02/2025 | 09:05 GMT by
Damian Chmiel
CySEC-Regulated Conotoxia Closes Polish Branch, Cinkciarz.pl Under Prosecutor's Radar
- Conotoxia Ltd. customers in Poland received an email on Friday informing them that the local branch will be closed.
- In the meantime, the prosecutor's office is investigating the parent company, Cinkciarz.pl, whose operations are currently suspended.
Monday, 03/02/2025 | 10:09 GMT by
Damian Chmiel
1,200 Alleged Victims Ask Forex Platform Cinkciarz.pl: Where Is Our Money?
- Major Polish currency exchange provider faces criminal investigation as customers report millions of missing funds.
- So far, 328 company accounts have been frozen, and USB drives containing Bitcoins worth $50 million have been seized.
Thursday, 16/01/2025 | 18:04 GMT by
Damian Chmiel
Fintech Giant Takes On Banking Elite in SWIFT Access Battle
- Cinkciarz.pl filed a complaint about banks allegedly blocking SWIFT access for domestic transfers.
- The company argues current system causes unnecessary delays and higher costs compared to international transfers.
Monday, 25/11/2024 | 09:34 GMT by
Damian Chmiel
This Fintech Repays 60% of Customer Funds After License Revocation, Sets Year-End Deadline
- Conotoxia announces a settlement plan offering full refunds plus interest to customers affected by its license cancellation.
- Cinkciarz.pl's brand is also seeking to sue the local regulator and almost a dozen of banks for alleged "conspiracy"
Tuesday, 19/11/2024 | 09:40 GMT by
Damian Chmiel
The Regulator Revoked Their License, They Took It to Court: Cinkciarz.pl Battles KNF
- Polish fintech Conotoxia challenges regulatory license revocation, arguing that KNF's decision threatens customer interests.
- The company claims the regulator's sudden change in stance on fund handling could harm service users.
Monday, 18/11/2024 | 08:41 GMT by
Damian Chmiel
Cinkciarz.pl Aims for Banking Future After License Loss, but Regulator Pushes Back
- Polish fintech announces ambitions to become a bank after losing its payment authorization last month.
- In the meantime, it declared war on Polish banks and the country's regulator, KNF.
Thursday, 14/11/2024 | 09:37 GMT by
Damian Chmiel
Fintech Giant Claims Banks Blocked Transfers for 14 Years in Market-Share Fight
- Cinkciarz.pl accuses banks of systematically blocking $300 million in funds over a decade.
- The company has filed complaints with multiple regulatory bodies and seeks criminal investigations against bank executives.
Monday, 04/11/2024 | 10:41 GMT by
Damian Chmiel
Credit Agricole Takes Part in “Banking Conspiracy,” Cinkciarz.pl Claims
- The lawsuit is part of a larger $1.65B legal campaign against ten Polish banks amid regulatory challenges.
- Cinkciarz.pl has lost its payments license in Poland and now alleges that the “banking lobby” was supposedly involved.
Friday, 25/10/2024 | 19:05 GMT by
Damian Chmiel
Polish KNF Decision Pushes Conotoxia Into Investment Hunt
- Cinkciarz.pl brand operator is in “advanced talks” with international investment funds.
- The company plans to challenge the KNF decision while simultaneously pursuing legal action against local banks.
Wednesday, 23/10/2024 | 12:35 GMT by
Damian Chmiel
Cinkciarz.pl and Conotoxia Plan to Sue 10 Banks for a Total of 6.5 Billion Zlotys
- Citibank and PKO BP have just joined the growing list. They are allegedly accused of collusion.
- Moreover, the Polish fintech giant claims that the local market watchdog "violates the law" and its regulations "destroy" companies.
Tuesday, 15/10/2024 | 07:22 GMT by
Damian Chmiel
Conotoxia Alleges Polish KNF “Violates the Law” and Regulations “Destroy” Companies
- The local fintech giant is challenging the financial regulator's decision to revoke its payment services license.
- It claims the watchdog's actions could disrupt services for 100,000 users and cause billions in damages.
Monday, 14/10/2024 | 07:20 GMT by
Damian Chmiel
Cinkciarz.pl Declares War on Polish Banks: Plans to Sue 8 for 5 Billion Zlotys
- The online FX platform accuses major financial institutions of unfair competition by denying access.
- It plans to involve competition authorities and urges other affected exchange offices to join its lawsuit.
Wednesday, 09/10/2024 | 07:12 GMT by
Damian Chmiel
Cinkciarz.pl Files 1.5 Billion Suit against Polish Banks amid License Row
- The Polish fintech giant is suing two major banks for alleged obstruction of business, seeking damages totaling PLN 1.5B.
- This legal action follows the recent suspension of its payment license by KNF.
Monday, 07/10/2024 | 08:56 GMT by
Damian Chmiel
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}