Zonda Faces Withdrawal Crisis, Holding 4,503 BTC in Cold Wallet Whose Private Keys Cannot Be Accessed Due to Former CEO Going Missing

**April 16 — Przemysław Kral, CEO of Polish crypto exchange Zonda, released a video statement Thursday, revealing a cold wallet holding ~4,503 Bitcoins (current value ~$334 million) for the first time. The wallet’s last on-chain transaction was recorded in November 2025.** **Kral noted the wallet’s private key was never transferred during a company handover — a process supposed to be led by Zonda founder and ex-CEO Sylwester Suszek, who has been missing since March 2022. He denied embezzlement claims, saying: “This is the main reason I’m urgently seeking Sylwester.”** **Against this backdrop, Zonda faces multiple controversies: Local media reports Polish authorities are investigating the exchange; blockchain analytics firm Recoveris, citing a sharp drop in Zonda’s hot wallet balance, suggested the platform may be insolvent. On April 6, Kral rejected bankruptcy allegations, insisting Zonda holds over 4,500 Bitcoins and remains fully solvent.** **On withdrawal pressure: Zonda typically processes ~100,000 withdrawal requests yearly. But around April 6, it received over 25,000 requests in just hours to days — a panic wave Kral blamed on negative media coverage. The company plans to sue for false accusations and pledged to meet all user withdrawal obligations.** **Polish MP Tomasz Mentzen commented on X (formerly Twitter) that Zonda may have permanently lost access to the cold wallet due to Suszek’s disappearance. Kral, however, did not explicitly state the funds are lost.**