Sylwester Suszek: The Rise and Mysterious Disappearance of Poland's "Crypto King"

Sylwester Suszek, often dubbed Poland’s “king of cryptocurrencies,” vanished in March 2022. The founder and former CEO of one of Poland’s largest crypto exchanges left behind a legacy of rapid success, controversy, and unanswered questions. Despite ongoing family efforts to find him, investigators believe he is likely deceased. This article traces his journey from early ventures to crypto dominance—and the enigma that followed.

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Early Life and Business Beginnings

Born in 1989 in Katowice and raised in Piekary Śląskie, Suszek showed entrepreneurial drive from a young age. His first venture was a computer shop, followed by roles in finance.

From 2011, he managed Multimoney, offering loans to small and medium enterprises. He later served as marketing director at Doradcy24 (now Dr.Finance) and CEO of Lemon Finance, focusing on financial intermediation. These businesses provided capital and experience that fueled his crypto ambitions.

Suszek’s interest in cryptocurrencies began early. He mined Bitcoin and Ethereum, reportedly achieving high daily yields from a Katowice facility.

Founding BitBay: Poland’s Crypto Pioneer

Suszek co-founded BitBay in 2014 with Mateusz Bajerski and Jacek Rogoż, launching on March 29. The exchange quickly grew, introducing volume-based fees, a PRO platform, and affiliate programs.

Initially focused on BTC and LTC pairs with PLN and EUR, BitBay prioritized core services over broad listings. By December 2017, monthly volume reached $1.5 billion, with nearly one million users.

Challenges emerged in 2018 amid regulatory scrutiny. KNF warnings and banking issues prompted relocation to Malta, seen as a blow to Poland’s economy. BitBay later moved to Estonia.

Controversies Surrounding BitBay

In 2020, a TVN “Superwizjer” investigation alleged suspicious origins for startup funds and claimed attempted bribery to suppress the story. Suszek denied wrongdoing, calling it a provocation.

2021 brought major changes: U.S. investment led Suszek to step down as CEO. In November, BitBay rebranded to Zonda under new leadership (Przemysław Kral as CEO), expanding to 50+ cryptocurrencies.

Estimated Wealth and Lifestyle

By age 30, Suszek amassed significant wealth, openly showcasing luxury cars, gadgets, and a prestigious Warsaw apartment in Złota 44 tower. He owned a private helicopter and planned ambitious projects like Suszek Tower in Katowice and international real estate.

Estimates placed him among Poland’s richest during crypto peaks, though exact figures remain speculative.

The Disappearance

On March 10, 2022, Suszek traveled to Czeladź for a business meeting and vanished. Theories range from voluntary exile to foul play linked to wealth or business dealings.

His sister Nicole has led search efforts, reporting threatening messages and ransom demands. A million-złoty reward was offered, but police investigations yielded no breakthroughs.

Detective Krzysztof Rutkowski joined in November 2024 at Nicole’s request, criticizing official efforts.

Legacy and Ongoing Questions

Suszek’s story embodies crypto’s early Polish boom: innovation, rapid wealth, and risks. BitBay/Zonda’s evolution continues without him, but his disappearance remains a cautionary tale about the industry’s shadows.

FAQs

Who was Sylwester Suszek? Founder of BitBay (later Zonda), considered Poland’s “crypto king” for building one of the country’s largest exchanges.

What was his early career? Started with a computer shop, then finance firms like Multimoney and Lemon Finance before entering crypto.

What controversies surrounded BitBay? 2020 TVN investigation alleged questionable funding origins and attempted bribery; Suszek denied claims.

What happened to BitBay after Suszek? Rebranded to Zonda in 2021 under new CEO; expanded offerings and relocated internationally.

What theories explain his disappearance? Range from voluntary exit (tax haven) to foul play; family reports threats and ransom demands.

Has Suszek been found? No—investigators consider him likely deceased; family and private efforts continue.

What impact did Suszek have on Polish crypto? Pioneered exchange infrastructure, popularized trading, but case highlights risks in unregulated early industry.