The troubles facing Polish cryptocurrency exchange Zondacrypto have intensified, with Prime Minister Donald Tusk alleging that the company sponsored politicians who opposed crypto market regulation. This claim came before a parliamentary vote to overturn President Karol Nawrocki's veto of the law.
Tusk stated that certain politicians' actions were influenced by Zondacrypto, which has ties to Russia and had previously provided financial support to lawmakers. The prime minister's comments followed Zondacrypto CEO Przemysław Kral's attempt to address allegations that the company was using investors' funds to replenish its dwindling reserves. Kral revealed that the exchange owns a bitcoin wallet containing approximately 4,500 BTC, valued at around $330 million, but is unable to access the funds due to a missing private key. The key was not handed over by former CEO Sylwester Suszek in 2021, and Suszek has been missing for four years.
Zondacrypto has been dealing with reports of frozen or delayed customer withdrawals since late March, prompting Kral to deny any misuse of client funds and assert that the exchange remains profitable. The situation has sparked a broader controversy surrounding the company, with blockchain intelligence firm Recoveris finding that bitcoin balances in hot wallets tied to Zonda have dropped by about 99% since mid-2024. The company's history has been marred by controversies, including a 2019 warning from Poland's Financial Supervision Authority for unauthorized financial activities and an ongoing investigation into BB Trade Estonia, Zonda's owner, for violating consumer interests.