The troubles facing Polish cryptocurrency exchange Zondacrypto continue to escalate. Already under scrutiny due to reports of frozen or delayed customer withdrawals, the company has now drawn the ire of Prime Minister Donald Tusk.

Tusk has accused Zondacrypto of sponsoring politicians who opposed crypto market regulation, thereby influencing legislation. This accusation came before a parliamentary vote to overturn President Karol Nawrocki's veto of the law. The exchange, which has ties to Russia, had previously provided financial support to these lawmakers.

Tusk's comments were made in response to Zondacrypto CEO Przemysław Kral's attempts to address allegations that the company was using investors' funds to bolster its dwindling reserves. Kral revealed that the exchange owns a bitcoin wallet containing approximately 4,500 BTC, valued at around $330 million.

However, the company is unable to access these funds because the previous owner, former CEO Sylwester Suszek, did not provide the private key before disappearing in 2021. Kral denies any misuse of client funds and claims the exchange remains profitable.

The situation has sparked a broader debate about the company's operations and regulatory environment. An analysis by blockchain intelligence firm Recoveris found that bitcoin balances in hot wallets linked to Zonda have dropped by about 99% since mid-2024. The controversy surrounding Zondacrypto is not new, with the company facing investigations and warnings from regulatory bodies in the past.

In 2019, Poland's Financial Supervision Authority placed BitBay, Zondacrypto's predecessor, on its public warning list for unauthorized financial activities. More recently, the Office of Competition and Consumer Protection launched an investigation into BB Trade Estonia, Zonda's owner, for allegedly violating consumer interests. Kral has attributed reports of declining reserves to a 'fundamental analytical error' and emphasized that the platform is stable, solvent, and secure.

However, the ongoing issues with withdrawal delays and the inaccessible wallet have raised concerns among customers and regulators alike.