The troubles for Polish cryptocurrency exchange Zondacrypto continue to escalate. Following reports of customer withdrawals being frozen or delayed, the company has drawn criticism from Prime Minister Donald Tusk, who alleged that Zondacrypto sponsored politicians to block crypto market regulation.
Tusk stated that these actions demonstrate the company's influence over certain lawmakers. The exchange has ties to Russia and had previously provided financial support to these politicians. This revelation came after Zondacrypto's CEO, Przemysław Kral, attempted to address allegations that the company was using investor funds to supplement 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 it due to a missing private key from the previous owner, former CEO Sylwester Suszek, who has been missing since 2021.
Kral denied any misuse of client funds and claimed the exchange remains profitable, attributing the situation to a broader campaign against the company, including political pressure, regulatory interference, and coordinated media coverage. An analysis by blockchain intelligence firm Recoveris found a significant drop in bitcoin balances in hot wallets linked to Zonda, and the company has faced numerous controversies in the past, including links to criminal activity and unauthorized financial actions.
The Office of Competition and Consumer Protection has been investigating Zonda's owner, BB Trade Estonia, since January 2025, for violating consumer interests. Kral has attributed reports of declining reserves to a 'fundamental analytical error' and stated that the platform's withdrawal delays were caused by an unusually high volume of requests and the implementation of new security measures.