Polish cryptocurrency trading platform exposes Ponzi scheme, former CEO disappears with 4,500 Bitcoin private keys

ME News Report, May 5th (UTC+8), Poland’s major crypto trading platform Zondacrypto is facing a serious fraud investigation. Its former CEO went missing in 2022, taking with him the private keys to a cold wallet containing 4,500 Bitcoins (currently worth over $340 million). The current CEO has admitted to being unable to access the wallet and has recently been reported to have fled to Israel. Prosecutors estimate potential customer losses of approximately $97 million. On-chain data shows that the Bitcoin balance in the platform’s hot wallet has plummeted 99.7% since mid-2024, and users have widely reported difficulties withdrawing funds. Polish Prime Minister Tusk estimates that up to 30k users may be affected. Tusk publicly accused the platform of being funded by Russian-related sources and used to finance opposition lawmakers to obstruct Poland’s cryptocurrency regulation legislation. He bluntly called it “Poland’s Ponzi scheme” and criticized the president for twice vetoing the EU’s MiCA framework legislation, turning Poland into a “paradise for scammers.” The platform’s board of directors stated they have not received “verifiable information” from the missing CEO and have collectively resigned. The founder has been missing since 2022, and the previously mentioned “suspect kidnapping charges” case remains under investigation. This incident is expected to prompt Poland and the EU to strengthen regulatory scrutiny of cryptocurrency trading platforms. (Source: ChainCatcher)