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Zondacrypto is facing pressure after CEO Przemysław Kral said the exchange cannot access a Bitcoin wallet holding 4,503 BTC, now worth more than $350 million.
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Zondacrypto CEO Przemysław Kral has pushed back against claims of fund misappropriation by publishing the Bitcoin wallet address at the center of the dispute. He said the exchange owns the 4,503 BTC wallet but cannot access the funds because the private keys were never delivered.
Kral claims Zondacrypto bought the wallet from Sylwester Suszek, founder of BitBay, before Suszek went missing in March 2022. He said the paperwork confirms ownership, but access depends on keys that never arrived.
“When Sylwester is supposed to hand over the private keys to that address, according to these documents, he disappears instead,” Kral said.
He also denied any role in the disappearance of Suszek.
“To all those who claim I had anything to do with Sylwester’s disappearance: this is the key argument that I care most about him being found. He may be watching this—I appeal to him to fulfill the agreement,” he declared.
The disclosure shook confidence in Zondacrypto. According to estimates, withdrawals drained 99% of the exchange bitcoin reserves after Kral discussed the wallet issue. He warned that no financial institution could survive that level of outflow.
The wallet reportedly received most of the funds in 2016 and has not recorded major activity for more than 10 years. Meanwhile, the disappearance of Suszek remains unresolved. One person faces kidnapping charges linked to the case, but the former BitBay founder has not been found.