Zonda exchange says 4.5K BTC wallet inaccessible amid withdrawal crisis

Crypto exchange Zonda said a cold wallet holding around 4,500 Bitcoin is currently inaccessible as the platform faces concerns over delayed withdrawals.

Zonda CEO Przemysław Kral posted a video statement on Thursday disclosing the exchange’s wallet address, saying the private keys to the wallet were never handed over.

In the statement, Kral denied accusations of misappropriating funds, saying the private keys were intended to be handed over by Zonda founder and former CEO Sylwester Suszek, who has been missing since 2022.

“So for all those who claim that I had anything to do with Sylwester's disappearance, this is the prime argument that I care the most about Sylwester being found,” Kral said.

The disclosure follows weeks of controversy around the exchange after local reports suggested a probe into Zonda by Polish authorities, followed by an analysis by blockchain platform Recoveris, which alleged Zonda could have been insolvent based on a sharp drop in the exchange's hot wallet balances.

Last recorded transaction dates to November 2025

Kral’s public disclosure of the wallet marks the first time that Zonda has disclosed the address amid the controversy.

The address cited by the CEO holds 4,503 Bitcoin (BTC) currently worth about $334 million, with the last transaction recorded in November 2025 as of the time of publication.

Source: Blockchain.com

The CEO previously denied insolvency claims following the hot wallet investigation by Recoveris on April 6, insisting that Zonda remained fully solvent with more than 4,500 BTC in holdings.