The District Court in Zielona Góra has filed for bankruptcy regarding the online currency exchange platform Cinkciarz.pl, initiating a process that may enable recovery for numerous clients who have experienced financial losses. A trustee has been appointed to manage the liquidation of the company’s assets and to handle the corresponding claims from creditors, as reported by local media outlet InteriaBiznes.
This bankruptcy follows a period of financial difficulties that persisted for more than a year, during which users of the platform reported significant delays and failures in transaction processing. Some clients waited to receive amounts as low as a few hundred złoty, while others awaited substantially larger sums amounting to tens or even hundreds of thousands. The financial troubles intensified in the spring of 2025 when a creditor, owed PLN 2 million, formally initiated bankruptcy proceedings.
Upon reviewing the bankruptcy petition, the court supervisor, Łukasz Grenda, confirmed that the company was permanently insolvent. In his evaluation, he stated, “The company lacks sufficient assets to repay all its creditors, and its legal circumstances make continued operations impossible.” Grenda is now serving as the official bankruptcy trustee.
Legal representatives for the affected clients emphasize that the bankruptcy declaration is essential for any hopes of fund recovery. As noted by Paweł Grzebień from the Sobota Jachira Law Firm, “Without the declaration of bankruptcy, reclaiming funds would be either impossible or considerably challenging.”
Upon visiting the company’s website, a message declares, “This is not the end of the story.” Creditors interested in recouping their losses are required to file their claims with the appointed trustee for a chance to receive distributions from Cinkciarz.pl’s remaining assets.
The claims must be filed electronically via Poland’s National Debt Register (KRZ), although legal experts warn that the submission process can be complex and demands thorough documentation. Legal counsel Piotr Zimmerman has stressed the importance of adhering to Article 240 of the Bankruptcy Law and ensuring claims meet the necessary procedural elements and statutory criteria.
Timeliness is crucial for creditors, as those that submit their claims within 30 days of the bankruptcy ruling, designated as October 27, 2025, are expected to be exempt from additional fees. The last date for penalty-free submissions is slated for November 26, 2025; afterward, late claims will incur a fee of PLN 1,239.95. Additionally, creditors are advised to gather evidence substantiating their claims to enhance their chances of recovering funds.
The bankruptcy announcement comes amid ongoing criminal inquiries into the company’s operations. The Regional Prosecutor’s Office in Poznań has been conducting an investigation since October 3, 2024, with criminal charges filed in March 2025 focusing on allegations of fraud and money laundering. Current estimates suggest that losses incurred by clients of Cinkciarz.pl may reach approximately PLN 125 million.
The situation illustrates a significant impact on numerous customers who turned to the platform for online currency exchange services, highlighting the risks associated with financial institutions experiencing instability.