Zonda CEO Reveals 4.5K BTC Wallet Amid Claims

Zonda’s CEO disclosed a public wallet holding about 4,503 BTC (~$334m) to counter allegations of customer fund misuse — but said the exchange cannot access the private key. Onchain history shows most coins were deposited in March 2016 and the address has seen little operational movement, undermining claims that it functions as an active exchange treasury. Reporting also points to roughly €75m in loans from the related entity, some allegedly unsecured. The revelation has intensified doubts about custody, governance and withdrawal reliability, keeping pressure on customer confidence. Market-relevant catalysts: normalized withdrawals, an independent reserves/liabilities attestation, and clearer proof of wallet ownership. Absent those, the story is a credibility risk for the exchange and could prompt heightened regulatory and customer reactions.