ChainThink report, according to Cointelegraph, Zonda CEO Przemysław Kral released a video statement on Thursday, disclosing for the first time a cold wallet address holding approximately 4,503 BTC (current market value around $334 million), with the last on-chain transaction recorded in November 2025.

The private key for this wallet was not transferred during the company handover process. Originally scheduled to be handed over by Sylwester Suszek, Zonda’s founder and former CEO, Suszek has been missing since March 2022.

Kral denied allegations of fund misappropriation, stating this is the core motivation behind his urgent efforts to locate Suszek.

Zonda has been embroiled in multiple controversies, with local media reporting that Polish authorities have launched an investigation into the exchange. Blockchain analytics platform Recoveris, citing a sharp decline in the exchange’s hot wallet balances, issued an analysis suggesting Zonda may already be insolvent.

Kral previously denied bankruptcy claims on April 6, asserting the platform still holds over 4,500 BTC and remains fully solvent.

Regarding withdrawal pressure, Zonda typically processes around 100,000 withdrawal requests annually. However, within just a few hours to days around April 6, the platform received more than 25,000 withdrawal requests—a surge Kral attributed to panic-driven withdrawal waves triggered by negative media coverage.

He stated the company plans to take legal action against false accusations and reiterated its commitment to fulfilling user withdrawal obligations.

Polish MP Tomasz Mentzen said on X that Zonda might permanently lose access to the cold wallet due to Suszek’s disappearance, though Kral did not explicitly confirm that funds have been lost in his statement.