What is Cinkciarz.pl?

Cinkciarz.pl is a Polish fintech platform that for many years offered online currency exchange services, international payments and trading in financial instruments such as CFD contracts. It also operated under the Conotoxia brand, holding licences to provide payment services in Poland and an investment licence in Cyprus. The platform was one of the market leaders in Poland, offering competitive exchange rates and a wide range of financial services.

Is Cinkciarz.pl licensed?

Until October 2024, Cinkciarz.pl held a national payment institution licence issued by the Polish Financial Supervision Authority (KNF). However, in October 2024 the KNF revoked this licence, citing improper management of client funds and failure to meet statutory prudential obligations. In addition, in July 2025 the Cypriot regulator CySEC suspended the investment licence of the subsidiary Conotoxia Ltd., responsible for Forex and CFD services, due to breaches of regulations concerning the organisation and management of the company.

Is Cinkciarz.pl a scam or a legitimate business?

Cinkciarz.pl is currently facing serious financial and regulatory problems. After the licence was revoked by the KNF and the licence was suspended by CySEC, the company can no longer legally provide payment or investment services. In addition, in March 2025 the court registered a bankruptcy filing for the company, and the Regional Prosecutor’s Office in Poznań is conducting an investigation into fraud, alleging that clients were induced to dispose of their assets to their detriment in an amount exceeding 49 million PLN.

Main complaints / allegations against Cinkciarz.pl

• Lack of withdrawals: Clients reported problems with withdrawing funds, waiting for transfers for many months without being able to contact customer support.
• Account blocks: After filing complaints, users were unable to log in to their accounts, being stuck waiting for an SMS confirmation.
• Lack of communication: Users complained about a lack of responses to emails and difficulties in reaching customer support by phone.
• Fraud allegations: Prosecutors have brought charges against members of the company’s management board, including fraud consisting in causing clients to dispose of their assets to their detriment.

Is it possible to recover the money and how?

Recovering funds may be difficult, but there are certain steps that can be taken:

• Filing creditor claims: After bankruptcy is declared, affected clients have 30 days to file their claims with the receiver (trustee in bankruptcy) via the National Debt Register (KRZ).
• Reporting to the prosecutor’s office: It is worth reporting the case to the Regional Prosecutor’s Office in Poznań, which is conducting the fraud investigation.
• Consulting a lawyer: Consulting a lawyer specialising in financial cases may help in pursuing claims.

Chargeback and other methods of recovering funds

If funds were transferred to the broker’s account using a credit or debit card, it may be possible to initiate a chargeback procedure:

• Contact the card issuer: Immediately contact the bank or financial institution that issued the card to report a dispute regarding the transaction.
• Submit a request: Fill in the appropriate form and provide the required documents confirming the transaction and your attempts to resolve the dispute directly with the broker.
• Monitor the process: Track the status of your request and cooperate with the financial institution to help bring the procedure to a successful conclusion.

Summary

• Regulation: Cinkciarz.pl has lost its licences both in Poland and in Cyprus, which prevents it from legally providing financial services.
• Safety of funds: Clients have reported problems with withdrawing funds and with contacting customer support.
• Recovery of funds: Affected clients should file their claims with the receiver and consult a lawyer in order to pursue their claims.