Zonda faces crisis as 4500 BTC wallet becomes inaccessible, withdrawals slow, and missing founder raises concerns over private keys and funds.
Crypto exchange Zonda is facing serious concerns after a major wallet issue. There is a cold wallet containing approximately 4,500 Bitcoin that cannot be accessed. In addition, users are complaining of delays in withdrawals. Therefore, the situation has created panic among investors and raised questions about fund safety.
Zonda Faces Crisis as 4,500 BTC Wallet Remains Locked
Zonda CEO Przemysaw Kral posted a video message to discuss the problem. He disclosed that the wallet keys were not given. Consequently, the present management is unable to access the money in that wallet.
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Sylwester Suszek was to transfer the missing keys. He has been missing since March 2022. Therefore, this has made recovery of the funds more difficult. The case has also raised doubts on the future of the wallet.
Kral refuted any allegations of misappropriation of customer funds. He said that the exchange is still operational and stable financially. Further, he claimed that it is a technical problem, not a fraud problem. Thus, the company claims that user money is not at risk.
In a move to gain trust, Kral posted the wallet address publicly. The wallet is said to contain Bitcoin worth approximately $330 million. Also, blockchain records indicate that the last time this wallet was used was in November 2025.
Withdrawal Delays Trigger Panic Among Users
In the meantime, users have begun to withdraw funds at a high rate. It is reported that there were more than 25,000 withdrawal requests within a few days. Such volume would normally take months to process. Therefore, the exchange is under heavy operational pressure.
To cope with this influx, Zonda began to process withdrawals manually. This includes Bitcoin and Ethereum transactions. This has slowed down the system even more. This has led to increased waiting time for the users.
There is also a sharp decline in hot wallet balances as indicated by blockchain data. It has been reported that balances decreased to 0.18 BTC in March 2026, compared to over 55 BTC in 2024. Thus, this fall has raised liquidity concerns.
The exchange has rejected claims of insolvency. Kral termed the problem as a short-term and solvable one. He reassured users that the site is stable and it is still functioning normally. However, many users remain worried due to delays.
Zonda has also declared to take legal action against some media houses. The firm alleges that panic withdrawals were occasioned by false reports. Thus, it will appeal to the court to refute these allegations.
In the meantime, the problem has found its way into the Polish parliament. Some lawmakers are concerned that the 4,500 BTC could be permanently lost. This puts the company under pressure to come up with a solution.
In conclusion, Zonda is facing a critical moment. The lost keys, the locked wallet and the delays in withdrawals have brought uncertainty. Moreover, user trust has been affected by recent events. Thus, the following weeks will be significant in terms of regaining trust and overcoming the crisis.
