Poland: Issued ruling in UOKiK investigation into Selfmaker Smart Solutions and Selfmaker Technology over alleged misleading practices

On 22 April 2024, the Polish Office of Competition and Consumer Protection (UOKiK) issued a ruling against Selfmaker Smart Solutions, Selfmaker Technology, and their CEO, Marek Wieteska, imposing fines amounting to nearly PLN 1 million. The investigation determined that the companies and their CEO were involved in a pyramid-type incentive scheme related to the sale of digital tokens. This scheme primarily rewarded participants for recruiting others rather than through the sale or consumption of offshoots. The UOKiK found that the entities had disseminated false information about the investment project, misleading consumers into purchasing tokens with the promise of profits that were not guaranteed. The ruling includes a fine of nearly PLN 900'000 for Selfmaker Technology and PLN 150'000 for CEO Marek Wieteska, with an additional PLN 96'000 fine for Selfmaker Smart Solutions. The companies are required to offer refunds to consumers who purchased tokens, addressing the ongoing effects of the violation of consumer interests.