Zondacrypto, a Polish cryptocurrency exchange, is facing mounting problems after Prime Minister Donald Tusk linked the company to legislative interference. The exchange has been under fire for reports of frozen or delayed customer withdrawals. In an attempt to address these concerns, CEO Przemysław Kral revealed that the company owns a bitcoin wallet holding approximately 4,500 BTC, valued at around $330 million. However, the exchange is unable to access the funds as the previous owner, former CEO Sylwester Suszek, did not hand over the private key before disappearing.
Kral claims that the exchange has sufficient reserves and denied any misuse of client funds, attributing the delays to a surge in withdrawal requests and the implementation of new security measures. The situation has sparked a broader controversy surrounding the company, with reports of a 99% drop in bitcoin balances in hot wallets tied to Zonda since mid-2024. The exchange has faced regulatory issues in the past, including a public warning from Poland's Financial Supervision Authority in 2019. An investigation into the company's owner, BB Trade Estonia, is currently underway.