Zonda CEO Reveals Inaccessibility of 4,503 Bitcoin Cold Wallet

Przemysław Kral, CEO of Polish cryptocurrency exchange Zonda, released a video statement disclosing for the first time a cold wallet address holding approximately 4,503 Bitcoin (currently valued at about $334 million). The last on-chain transaction for this wallet was recorded in November 2025, and the private key was never transferred during the company's handover. The original custodian was founder and former CEO Sylwester Suszek, who has been missing since March 2022.

Kral denied allegations of fund misappropriation and stated that finding Suszek is his most urgent priority. Previously, blockchain analytics platform Recoveris pointed out that Zonda might be insolvent due to a sharp decline in hot wallet balances, prompting an investigation by Polish authorities. Around April 6, Zonda received over 25,000 withdrawal requests within a few hours to days, far exceeding the normal annual scale. Kral attributed this to a panic withdrawal triggered by negative media reports and promised to fulfill withdrawal obligations. Polish MP Tomasz Mentzen stated that Zonda might permanently lose access to the cold wallet due to Suszek's disappearance.

Source: Public Information