What is happening with Zonda’s Bitcoin wallet?

Zonda revealed that a cold wallet holding about 4,500 BTC is currently inaccessible. The issue is linked to missing private keys that were never transferred during a company handover. This has raised concerns amid ongoing withdrawal delays.

How much Bitcoin is affected?

The inaccessible wallet holds approximately 4,503 BTC, valued at around $334 million. These funds have not moved since November 2025. The size of the holdings makes this a significant issue for the exchange.

Why can’t Zonda access the wallet?

CEO Przemysław Kral said the private keys were never handed over by former CEO Sylwester Suszek. Without the keys, the funds cannot be accessed. Suszek has reportedly been missing since 2022.

Are user funds at risk?

It is unclear if user funds are directly tied to the inaccessible wallet. Zonda claims it remains solvent and can meet obligations. However, the situation raises concerns about custody and fund management.

Why are withdrawals delayed on Zonda?

The exchange reported a surge in withdrawal requests following negative media coverage. Around 25,000 requests were made in a short period. This sudden demand may have strained operations.

Has Zonda denied insolvency claims?

Yes, Zonda has denied being insolvent. The CEO stated the company still holds significant Bitcoin reserves. However, external analysis has questioned the exchange’s financial position.

What is a cold wallet and why does it matter?

A cold wallet stores crypto offline, making it more secure from hacks. However, access depends entirely on private keys. If keys are lost or unavailable, funds can become permanently inaccessible.

What are the risks highlighted by this situation?

This case highlights key risks in crypto custody, including key management and governance failures. It also shows how reliance on individuals can create vulnerabilities. These risks can affect user confidence.

Zonda reveals 4.5K BTC wallet access issue

Written by Heidi Cuthbert Published Apr. 17 2026

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

CEO Przemysław Kral said the private keys to the wallet were never transferred during a company handover, linking the issue to missing founder Sylwester Suszek.

“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 wallet, holding roughly 4,503 BTC valued at about $334 million, has not recorded any transactions since November 2025.

The disclosure follows reports of delayed withdrawals and a surge in requests, with more than 25,000 withdrawal attempts recorded within days amid negative media coverage. Following the announcement the Zonda position was unchanged at $XX.

Kral denied insolvency claims and said the exchange remains solvent, while confirming plans to take legal action over what he described as false allegations.

The situation has intensified scrutiny of the exchange and raised broader concerns about custody risks, governance failures and regulatory oversight in the crypto sector.