Crypto exchange Zonda stated a cold wallet holding around 4,500 Bitcoin is presently unattainable as the platform deals with issues over postponed withdrawals.
Zonda CEO Przemysław Kral published a video declaration on Thursday revealing the exchange’s wallet address, stating the personal secrets to the wallet were never ever turned over.
In the declaration, Kral rejected allegations of misusing funds, stating the personal secrets were meant to be turned over by Zonda creator and previous CEO Sylwester Suszek, who has actually been missing out on considering that 2022.
” So for all those who declare that I had anything to do with Sylwester’s disappearance, this is the prime argument that I care the most about Sylwester being discovered,” Kral stated.
The disclosure follows weeks of debate around the exchange after regional reports recommended a probe into Zonda by Polish authorities, followed by an analysis by blockchain platform Recoveris, which declared Zonda might have been insolvent based upon a sharp drop in the exchange’s hot wallet balances.
Last tape-recorded deal dates to November 2025
Kral’s public disclosure of the wallet marks the very first time that Zonda has actually divulged the address in the middle of the debate.
The address mentioned by the CEO holds 4,503 Bitcoin (BTC) presently worth about $334 million, with the last deal tape-recorded in November 2025 since the time of publication.
The CEO formerly rejected insolvency claims following the hot wallet examination by Recoveris on April 6, firmly insisting that Zonda stayed totally solvent with more than 4,500 BTC in holdings.
CEO strategies legal action, states Zonda will satisfy client responsibilities
In the video, Kral stated that much of Zonda’s current withdrawal pressure was driven by an irregular spike in withdrawal demands, which he connected to unfavorable media protection.
He stated Zonda usually processed around 100,000 withdrawal demands annually however saw more than 25,000 demands within hours and days around April 6.
Kral stated the business prepares to take legal action over what he referred to as incorrect claims surrounding the exchange and guaranteed to satisfy responsibilities to consumers in the middle of withdrawal issues.
Polish legislator Tomasz Mentzen stated on X that Zonda might have lost access to its cold wallet following the disappearance of previous CEO Suszek. Kral did not clearly state the funds were lost, however stated the personal secrets to the wallet were never ever moved throughout the business handover.
Suszek has actually apparently been missing out on considering that March 2022, with reporting referencing supposed criminal ties amongst specific investors of Zonda, previously BitBay.
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The exchange was established in Poland in 2014 and rebranded as Zonda in 2021. Kral informed Cointelegraph in February that the business signed up in Estonia in the middle of regulative unpredictability in Poland, pointing out hold-ups in executing the European Union-wide Markets in Crypto-Assets (MiCA) guideline.
The concern has actually drawn the exchange into a more comprehensive political argument, including pressure on regulators and increasing examination of Poland’s crypto sector.
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