Poland's Prime Minister Accuses Zondacrypto of Influencing Legislation Amid Withdrawal Delays

The troubles facing Polish cryptocurrency exchange Zondacrypto have intensified, with Prime Minister Donald Tusk accusing the company of sponsoring politicians who opposed crypto market regulation. Tusk's comments came before a parliamentary vote to overturn President Karol Nawrocki's veto of the law. The exchange has ties to Russia and had previously provided financial support to lawmakers. In an attempt to alleviate allegations of misusing investor funds, Zondacrypto's CEO Przemysław Kral disclosed the existence of a bitcoin wallet holding approximately 4,500 BTC, valued at around $330 million. However, the company is unable to access the funds as the previous owner, former CEO Sylwester Suszek, did not hand over the private key before disappearing in 2021. Kral attributed the situation to a broader campaign against the company, citing political pressure, regulatory interference, and coordinated media coverage. The exchange has faced reports of frozen or delayed customer withdrawals since late March, which Kral denied were due to any misuse of client funds. An analysis by blockchain intelligence firm Recoveris found that bitcoin balances in hot wallets tied to Zonda have dropped by about 99% since mid-2024. The controversy surrounding Zondacrypto has been ongoing, with the company facing investigations and warnings from regulatory authorities in the past. In 2024, an investigative report identified a shareholder with a criminal record, and in 2019, the Financial Supervision Authority placed BitBay, Zondacrypto's predecessor, on its public warning list for unauthorized financial activities. The Office of Competition and Consumer Protection is currently investigating Zonda's owner, BB Trade Estonia, for violating consumer interests.