Marcin Pioro, the fugitive CEO of online currency exchange Cinkciarz.pl, has been arrested in the United States, Polish prosecutors said Thursday (Thursday), ending one of the longest international manhunts in the country’s fintech history.
The Poznań Regional Prosecutor’s Office confirmed the arrest In a statementHe said the office is now waiting for a US court to determine how to proceed with extradition proceedings.
The office’s spokeswoman, Anna Marszayk, told the Polish News Agency that, due to the time difference between the two countries, there is no information yet about the date of the US court’s ruling. She added that the court must first decide what form It will take extradition.
The arrest operation was carried out by the American authorities in cooperation with their Polish counterparts from the Central Bureau of Investigation and officers attached to the Criminal Bureau at the National Police Headquarters. Neither side revealed the exact location of the detention in the United States.
Customer losses rise to more than 185 million zlotys
Prosecutors said the total estimated damages caused by the failed platform had risen to more than 185 million zlotys, roughly $50 million at current exchange rates, with more than 5,000 customers identified as victims. The number of formal complaints submitted to the Public Prosecutor’s Office remains higher, and the authorities expect the case file to continue to expand.
This number is much higher than The 112 million zloty estimate was revealed when the international arrest warrant was first issued last summerand approximately 60% higher than An amount of 125 million zlotys was cited when Interpol formalized the search In mid-2025.
The investigation dates back to October 2024, when the Polish financial supervisory authority, KNF, Cancellation of Conotoxia’s payment services licensea subsidiary of Cinkciarz.pl that handled the bulk of the brand’s currency exchange flow. Within days, the Poznan prosecutor’s office opened a criminal investigation.
From Interpol Red Notice to US detention
Formal charges, including fraud and money laundering, were brought in March 2025 against Bioro and several other executives, but The CEO had already left Poland It cannot be submitted. A Polish court agreed to detain him in absentia, paving the way for an international arrest warrant to be issued.
The stalking escalated in July 2025, when Interpol issued a Red Notice Pioro was placed among the police force’s most wanted suspects. He faces a maximum sentence of 25 years in prison if convicted on the Polish charges.
Several other figures linked to the company are already in Polish custody or under investigation. Former board member Robert Gurney was detained for three months in early 2025, and Chief accountant Monica J. was arrested. In mid-2025
On charges of misusing customer funds.
Other former directors of Cinkciarz.pl and Conotoxia, along with employees responsible for currency liquidity in settlement accounts, have been charged with crimes ranging from participation in an organized criminal group to money laundering.
From the Polish Darling of Fintech to Bankruptcy Court
Founded in 2006 in the southwestern Polish city of Zielona Gora, Cinkciarz.pl has capitalized on the country’s foreign exchange boom to become one of the most popular online exchanges in Central Europe, processing billions of zlotys in annual transaction volume. Sports sponsorship and corporate campaigns raised the brand’s profile throughout Poland.
This picture will unfold over the years 2024 and 2025. Customers began reporting money deposited for currency exchange not being returned, with delays extending from days to months.
Many of those affected were funneling life savings, mortgage payments and small business operating funds through the platform.
District Court in Zielona Gora at the end The company was declared bankruptwith procedures now open for thousands of creditors to submit claims. About 8,000 creditors have registered with the bankruptcy trustee, according to Polish media reports.
Cryptocurrency Collectibles and Combat Defense
The case also drew attention to Biro’s personal cryptocurrency holdings. Polish investigators had previously alleged that C.E.O He was holding approximately 492 bitcoins, worth about 196 million zlotys On personal storage devices. The coins were acquired by Bioru as an individual as of 2015, the company said.
Throughout the investigation, the executive maintained his innocence and used social media to fight back, accusing Polish prosecutors of misconduct.
The company itself has filed lawsuits against Several Polish banks accused of alleged collusionchallenged the cancellation of KNF’s license in court, and at one point publicly announced plans to do so Converting to a joint stock company and obtaining a banking licenseThis is a move that was completely rejected by the regulator.
sinexiaars.pl
She lost her formal legal dispute with the KNF Shortly before the bankruptcy ruling.
How quickly Pioro is returned to Poland will depend on whether his legal team challenges the extradition request. Polish authorities have indicated that such cases routinely last for several months, and in some cases more than a year.
Marcin Pioro, the fugitive CEO of online currency exchange Cinkciarz.pl, has been arrested in the United States, Polish prosecutors said Thursday (Thursday), ending one of the longest international manhunts in the country’s fintech history.
The Poznań Regional Prosecutor’s Office confirmed the arrest In a statementHe said the office is now waiting for a US court to determine how to proceed with extradition proceedings.
The office’s spokeswoman, Anna Marszayk, told the Polish News Agency that, due to the time difference between the two countries, there is no information yet about the date of the US court’s ruling. She added that the court must first decide what form It will take extradition.
The arrest operation was carried out by the American authorities in cooperation with their Polish counterparts from the Central Bureau of Investigation and officers attached to the Criminal Bureau at the National Police Headquarters. Neither side revealed the exact location of the detention in the United States.
Customer losses rise to more than 185 million zlotys
Prosecutors said the total estimated damages caused by the failed platform had risen to more than 185 million zlotys, roughly $50 million at current exchange rates, with more than 5,000 customers identified as victims. The number of formal complaints submitted to the Public Prosecutor’s Office remains higher, and the authorities expect the case file to continue to expand.
This number is much higher than The 112 million zloty estimate was revealed when the international arrest warrant was first issued last summerand approximately 60% higher than An amount of 125 million zlotys was cited when Interpol formalized the search In mid-2025.
The investigation dates back to October 2024, when the Polish financial supervisory authority, KNF, Cancellation of Conotoxia’s payment services licensea subsidiary of Cinkciarz.pl that handled the bulk of the brand’s currency exchange flow. Within days, the Poznan prosecutor’s office opened a criminal investigation.
From Interpol Red Notice to US detention
Formal charges, including fraud and money laundering, were brought in March 2025 against Bioro and several other executives, but The CEO had already left Poland It cannot be submitted. A Polish court agreed to detain him in absentia, paving the way for an international arrest warrant to be issued.
The stalking escalated in July 2025, when Interpol issued a Red Notice Pioro was placed among the police force’s most wanted suspects. He faces a maximum sentence of 25 years in prison if convicted on the Polish charges.
Several other figures linked to the company are already in Polish custody or under investigation. Former board member Robert Gurney was detained for three months in early 2025, and Chief accountant Monica J. was arrested. In mid-2025
On charges of misusing customer funds.
Other former directors of Cinkciarz.pl and Conotoxia, along with employees responsible for currency liquidity in settlement accounts, have been charged with crimes ranging from participation in an organized criminal group to money laundering.
From the Polish Darling of Fintech to Bankruptcy Court
Founded in 2006 in the southwestern Polish city of Zielona Gora, Cinkciarz.pl has capitalized on the country’s foreign exchange boom to become one of the most popular online exchanges in Central Europe, processing billions of zlotys in annual transaction volume. Sports sponsorship and corporate campaigns raised the brand’s profile throughout Poland.
This picture will unfold over the years 2024 and 2025. Customers began reporting money deposited for currency exchange not being returned, with delays extending from days to months.
Many of those affected were funneling life savings, mortgage payments and small business operating funds through the platform.
District Court in Zielona Gora at the end The company was declared bankruptwith procedures now open for thousands of creditors to submit claims. About 8,000 creditors have registered with the bankruptcy trustee, according to Polish media reports.
Cryptocurrency Collectibles and Combat Defense
The case also drew attention to Biro’s personal cryptocurrency holdings. Polish investigators had previously alleged that C.E.O He was holding approximately 492 bitcoins, worth about 196 million zlotys On personal storage devices. The coins were acquired by Bioru as an individual as of 2015, the company said.
Throughout the investigation, the executive maintained his innocence and used social media to fight back, accusing Polish prosecutors of misconduct.
The company itself has filed lawsuits against Several Polish banks accused of alleged collusionchallenged the cancellation of KNF’s license in court, and at one point publicly announced plans to do so Converting to a joint stock company and obtaining a banking licenseThis is a move that was completely rejected by the regulator.
sinexiaars.pl
She lost her formal legal dispute with the KNF Shortly before the bankruptcy ruling.
How quickly Pioro is returned to Poland will depend on whether his legal team challenges the extradition request. Polish authorities have indicated that such cases routinely last for several months, and in some cases more than a year.
