Zonda Exchange discloses 4,500 BTC cold wallet addresses, funds inaccessible due to private keys not being transferred.

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Deep Tide TechFlow News, April 16, according to Cointelegraph, Poland’s cryptocurrency exchange Zonda is facing a withdrawal crisis. Current CEO Przemysław Kral released a video statement, publicly disclosing for the first time a cold wallet address holding approximately 4,503 BTC (currently valued at about $334 million), and stated that the private key for this wallet was never transferred during the company’s handover process. Kral said the private key should have been handed over by Zonda founder and former CEO Sylwester Suszek, but the latter has been missing since March 2022.

Kral denied allegations of fund embezzlement and said Suszek’s disappearance itself proves his innocence. Previously, blockchain platform Recoveris released an analysis report indicating that Zonda’s hot wallet balance had significantly decreased, suspected of insolvency, triggering a large-scale withdrawal request—Zonda typically processes about 100k withdrawal requests annually, but around April 6, within just a few hours, received over 25k requests. Kral stated that the company will take legal action against the related false accusations and pledged to fulfill its obligations to customers’ funds.

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