Cryptocurrency fraud has become one of the most significant forms of crime in Poland. Despite having legal tools to combat it, the Polish state – its police, prosecution, courts, and financial regulators – has largely capitulated in the face of this epidemic.
The scale of the problem
Based on my extensive experience handling cryptocurrency fraud cases, I estimate that the losses suffered by Polish citizens from these schemes amount to billions of zlotys annually. The typical victim loses between PLN 50,000 and PLN 500,000, but I have handled cases involving losses exceeding PLN 10 million.
Why the state has failed
- Police – officers frequently refuse to accept criminal complaints, classifying them as civil matters. Those who do accept complaints often lack the technical knowledge to investigate cryptocurrency-related crimes.
- Prosecution – prosecutors struggle with the technical complexity of blockchain analysis and international cooperation required to trace stolen funds.
- Courts – judges often lack understanding of cryptocurrency technology, leading to inadequate sentences and procedural errors.
- Banks – despite AML obligations to monitor suspicious transactions, banks frequently fail to detect or prevent obvious fraud patterns (multiple large transfers to high-risk jurisdictions).
- GIIF – the General Inspector of Financial Information is overwhelmed and slow to act on reports.
What needs to change
- Specialized cybercrime units with cryptocurrency expertise in police and prosecution
- Mandatory training for judges handling cryptocurrency cases
- Stronger enforcement of banks’ AML obligations regarding cryptocurrency transactions
- Improved international cooperation mechanisms
- Public awareness campaigns about cryptocurrency fraud
What victims can do now
- File criminal complaints despite police reluctance
- Report to GIIF directly
- Consider civil claims against banks under the Payment Services Act
- Engage specialized lawyers who understand blockchain technology
- Preserve all evidence immediately
Paweł Osiński
Attorney, expert in cryptocurrency fraud and cybercrime