Cinkciarz.pl Faces Account Freezes, Requests Payment Completion From Customers

Cinkciarz.pl, a subsidiary of Conotoxia Holding, is reportedly asking customers to complete payments for currency exchange transactions. However, the company is unable to process these transactions due to prosecutor-ordered account freezes.

The currency exchange platform, which has operated for years, stated that the account restrictions had caused heavy financial losses for both the company and its users. In a statement, Cinkciarz.pl urged customers to file complaints with Poland’s Financial Supervisory Authority and the prosecutor’s office, holding them responsible for the current situation.

Cinkciarz.pl Faces Scrutiny Over Payment Requests Amid Account Freezes

According to the company, blocked accounts had prevented the execution of transactions, leading to serious losses. Cinkciarz.pl said users had no choice but to exchange currency at higher rates in banks and other institutions.

Despite these challenges, reports indicated that some customers had received payment reminders from the company. Cinkciarz.pl had reportedly warned users of possible liability for damages under Article 471 of the Polish Civil Code if payments were not made.

Customers attempting to exchange currency had reportedly encountered bank restrictions due to prosecutor’s office actions, leading to their funds being returned. However, Cinkciarz.pl was still said to be requesting payments, sending reminders with a request for transfer confirmations.

The company argued that since transactions had been initiated and approved, customers were still expected to fulfill their obligations. This situation had resulted in cases where payments were being requested for exchanges that had not taken place.

According to Cinkciarz.pl, the issue stemmed from actions taken by state authorities, not its own decisions. The company said banks had blocked funds at the prosecutor’s request, preventing customers from completing their agreements. It stated that clients were still required to settle outstanding amounts.

Legal experts raised concerns over the demands. A lawyer from SG Legal described the practice as misleading, noting that customers should not be held responsible for the company’s inability to process transactions. The lawyer said such actions could be seen as unfair market practices.

Cinkciarz.pl Challenges Authorities Amid Financial And Legal Struggles

Cinkciarz.pl said it took legal steps in Zielona Góra after telling prosecutors in Poznań about its problem. The company also tried to fight rules it called too strong and harmful to its work.

Reports said Conotoxia Holding, which owns Cinkciarz.pl, had not earned money for many years. By the end of last year, numbers showed it lost millions and still had loans to pay.

A customer asked the court to start bankruptcy steps against Cinkciarz.pl to get back lost money. But the case stopped because some papers were missing, and a fee was not paid.

Cinkciarz.pl’s troubles began when the financial regulator took away its payment license. At the same time, the prosecutor’s office started looking into the company’s work.

Since then, Cinkciarz.pl could not give people their money and argued with regulators. The company even said it would sell toilet paper with the regulator’s letters as a joke.

Cinkciarz.pl blamed banks, regulators, and law officers for the problem. It also said prosecutors had checked the financial regulator because it asked them to, but reports said no such check was done.