Zonda Exchange loses access to 4,500 BTC in wallet crisis

Diana Chen

·Apr 17 2026, 00:10

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Key Takeaways:

Zonda exchange has lost access to a wallet containing approximately 4,500 Bitcoin (BTC).
The CEO stated private keys were not transferred during a past company handover, preventing access.
The incident has triggered a withdrawal crisis and severe damage to the exchange's reputation.

Troubled crypto exchange Zonda has lost access to a Bitcoin wallet holding about 4,500 BTC after a botched company handover, its CEO disclosed on April 16, 2026, triggering a crisis.

The CEO revealed that the private keys for the wallet were never transferred during a previous change in company ownership, leaving the funds inaccessible.

The news has sent shockwaves through Zonda's user base, leading to a withdrawal freeze and what sources describe as a "bank run." The event highlights the operational risks at smaller, less-regulated exchanges compared to giants like Coinbase or Binance, and is expected to trigger an immediate regulatory investigation. The market sentiment for Zonda is extremely bearish.

While the loss of 4,500 BTC from circulation is minor for the overall Bitcoin market, the incident severely damages the reputation of centralized exchanges. The crisis at Zonda will likely lead to its insolvency and may accelerate the flight of users toward self-custody solutions or larger, more established trading platforms, fearing similar operational failures elsewhere.

This article is for informational purposes only and does not constitute investment advice.