The District Court in Zielona Góra has declared online
currency exchange Cinkciarz.pl bankrupt, triggering proceedings that could
allow thousands of customers to recover lost funds. A trustee has been appointed to liquidate the
company’s assets and oversee creditor claims, local media publication InteriaBiznes reported.
Bankruptcy Confirmed After Months of Financial
Troubles
For over a year, Cinkciarz.pl users reported delays
and failures in completing transactions. Some were waiting for amounts of a few
hundred złoty, while others awaited tens or hundreds of thousands. The
situation escalated in spring 2025 when one creditor, owed PLN 2 million, filed
for bankruptcy.
The court supervisor, Łukasz Grenda of
Grenda-Restrukturyzacja sp. z o.o., reviewed the bankruptcy petition and
confirmed the company’s permanent insolvency. “The company lacks sufficient
assets to repay all its creditors, and its legal situation is essentially
incapable of continuing operations,” the report concluded. Grenda has now been
appointed as the official bankruptcy trustee.
Lawyers representing affected customers stress that
bankruptcy is the only viable route to recover funds. “Without Cinkciarz’s
bankruptcy, reclaiming their money would be impossible or significantly more
difficult,” said Paweł Grzebień from the Sobota Jachira Law Firm.
“Not The End of the Story”
Logging into the company website is met with a bizarre message: “This is not the end of the story.” Creditors must reportedly report their claims to the trustee to participate in the distribution of Cinkciarz.pl’s remaining assets.
Claims must be submitted electronically through the
National Debt Register (KRZ). Legal experts caution that the system is not
intuitive and requires precise documentation. According to Piotr Zimmerman,
legal counsel at Zimmerman Sierakowski Frosztęga, claims must comply with
Article 240 of the Bankruptcy Law, include procedural elements, and meet
statutory requirements.
Timing is critical: creditors filing within 30 days of
the bankruptcy declaration, October 27, 2025, will avoid fees. The deadline to
submit claims without penalty is November 26, 2025. Late submissions carry a
fee of PLN 1,239.95. Creditors are also advised to gather supporting
documents proving their debts to increase the likelihood of recovery.
Criminal Investigation and Interpol Red Notice
The bankruptcy comes amid ongoing criminal
investigations. The Regional Prosecutor’s Office in Poznań launched an inquiry
on October 3, 2024, filing charges in March 2025 for alleged fraud and money
laundering. The total estimated losses for Cinkciarz.pl clients now approach
PLN 125 million.
Marcin Pióro, CEO of Cinkciarz.pl, has been placed on
an Interpol red notice, signaling the highest level of international search.
Prosecutors accuse him of orchestrating large-scale fraud and laundering
significant sums of client money.
The District Court in Zielona Góra has declared online
currency exchange Cinkciarz.pl bankrupt, triggering proceedings that could
allow thousands of customers to recover lost funds. A trustee has been appointed to liquidate the
company’s assets and oversee creditor claims, local media publication InteriaBiznes reported.
Bankruptcy Confirmed After Months of Financial
Troubles
For over a year, Cinkciarz.pl users reported delays
and failures in completing transactions. Some were waiting for amounts of a few
hundred złoty, while others awaited tens or hundreds of thousands. The
situation escalated in spring 2025 when one creditor, owed PLN 2 million, filed
for bankruptcy.
The court supervisor, Łukasz Grenda of
Grenda-Restrukturyzacja sp. z o.o., reviewed the bankruptcy petition and
confirmed the company’s permanent insolvency. “The company lacks sufficient
assets to repay all its creditors, and its legal situation is essentially
incapable of continuing operations,” the report concluded. Grenda has now been
appointed as the official bankruptcy trustee.
Lawyers representing affected customers stress that
bankruptcy is the only viable route to recover funds. “Without Cinkciarz’s
bankruptcy, reclaiming their money would be impossible or significantly more
difficult,” said Paweł Grzebień from the Sobota Jachira Law Firm.
“Not The End of the Story”
Logging into the company website is met with a bizarre message: “This is not the end of the story.” Creditors must reportedly report their claims to the trustee to participate in the distribution of Cinkciarz.pl’s remaining assets.
Claims must be submitted electronically through the
National Debt Register (KRZ). Legal experts caution that the system is not
intuitive and requires precise documentation. According to Piotr Zimmerman,
legal counsel at Zimmerman Sierakowski Frosztęga, claims must comply with
Article 240 of the Bankruptcy Law, include procedural elements, and meet
statutory requirements.
Timing is critical: creditors filing within 30 days of
the bankruptcy declaration, October 27, 2025, will avoid fees. The deadline to
submit claims without penalty is November 26, 2025. Late submissions carry a
fee of PLN 1,239.95. Creditors are also advised to gather supporting
documents proving their debts to increase the likelihood of recovery.
Criminal Investigation and Interpol Red Notice
The bankruptcy comes amid ongoing criminal
investigations. The Regional Prosecutor’s Office in Poznań launched an inquiry
on October 3, 2024, filing charges in March 2025 for alleged fraud and money
laundering. The total estimated losses for Cinkciarz.pl clients now approach
PLN 125 million.
Marcin Pióro, CEO of Cinkciarz.pl, has been placed on
an Interpol red notice, signaling the highest level of international search.
Prosecutors accuse him of orchestrating large-scale fraud and laundering
significant sums of client money.
This post is originally published on FINANCEMAGNATES.
