Zondacrypto, a Polish cryptocurrency exchange, is under intense scrutiny after Prime Minister Donald Tusk alleged that the company had sponsored politicians who opposed crypto market regulation. The exchange has been dealing with reports of delayed or frozen customer withdrawals since late March. In an attempt to alleviate concerns, CEO Przemysław Kral disclosed the existence of a bitcoin wallet containing approximately 4,500 BTC, valued at around $330 million. However, the company is unable to access these funds due to a missing private key from a former CEO, Sylwester Suszek, who has been missing for four years.
Kral claimed that the exchange has sufficient reserves and that the delayed withdrawals were a result of a surge in requests, which led to manual verification processes. The situation has sparked a broader controversy surrounding the company, including a long-running investigation into its shareholder and a public warning from Poland's Financial Supervision Authority in 2019.
The Office of Competition and Consumer Protection is also investigating the company's owner, BB Trade Estonia, for allegedly violating consumer interests.