Cryptocurrency exchange Zondacrypto, a popular presence in Monaco, is currently under a money-laundering investigation by Monaco authorities. The platform is currently undergoing a severe financial collapse, with customer losses totalling more than 82.4 million euros.
Zondacrypto’s profile on the apple app store recently listed the platform as the “#1 digital currency exchange in Europe used to buy, sell and store Bitcoin.” This is no longer the case, as the trading app has suffered a staggering 99.7% drop in Bitcoin reserves, with thousands of users reportedly losing access to their funds.
“It’s over. Police are taking over … I’m sorry to people who lost their money. Zondacrypto was promoted by FC Barcelona and ex Poland goalkeeper and polish cinema ‘celebrities’ … I’m sure they got paid,” writes Edmund in a public review on Trustpilot.
The platform hails from Poland, where cryptocurrency laws were once lax. But Zondacrypto’s loss of customer money has rushed lawmakers into adopting a bill on Friday 15 May, regulating cryptocurrencies. The new legislation implements the Markets in Crypto-Assets Regulation (MiCA). The regulation, created by the European Union, is expected to be approved by Poland by this July.
Monaco Partnerships with ASM, Top Marques and Princess Charlene Foundation
Spotted all over Monaco, Zondacrypto sponsored everything from the Princess Charlene Foundation to AS Monaco. The platform was the front-of-jersey sponsor for the AS Monaco Basket team in the EuroLeague. In 2024, Zondacrypto held a gala to officially launch its “ZND token”, during which a charity auction was held in support of the Princess Charlene of Monaco Foundation “which raised €67,000 thanks to generous donations made by zondacrypto’s partners,” states the Princess Charlene of Monaco website.
Zondacrypto was the official title sponsor of Top Marques Monaco. The platform hosted its VIP Lounge, free crypto discussions and events with celebrity ambassadors like F1 driver Valtteri Bottas, and custom luxury car displays, including a branded Lamborghini.
Unfortunately, all these high-profile partnerships in Monaco established Zondacrypto as a seemingly reliable platform in the cryptocurrency sector.
The beginning of the end
The first clear sign that something was wrong with Zondacrypto came from an on-chain analysis by investigators from Recoveris at the end of March. On 6 April 2026, money.pl published Recoveris’s analysis of Zondacrypto showing that the crypto exchange’s hot wallet Bitcoin reserves had fallen by 99.7%, from approximately 55.7 BTC in August 2024 to just 0.18 BTC in March 2026. That collapse in reserves coincided with a mass transfer of assets from the platform to competitor exchange Kraken.
Where is Zondacrypto’s Founder? Where is the money?
Zondacrypto’s founder, Sylwester Suszek disappeared under mysterious circumstances in March 2022 and remains missing. Following his disappearance, control of the exchange was taken over by attorney and CEO Przemysław Kral. According to a recent video published on social media by Kral himself, Suszek did not hand over Bitcoin keys tied to 4,500 Bitcoins, worth about €302 million at current market prices.
“I have decided to publish the wallet address containing 4,500 bitcoins, worth $330 million, to dispel baseless accusations of alleged misappropriation of funds.”
What do you need to know before you get involved in cryptoassets?
In some countries, like Canada, cryptoassets aren’t legal tender. Before deciding to buy cryptoassets, it is always advised to take the time to do your homework. The value of cryptoassets is extremely volatile and can rise or fall by thousands of euros in a matter of hours.
It is advised to make sure the financial firm is authorized by the national regulator. In Monaco, that is the CCAF (Commission de Contrôle des Activités Financières), an independent regulatory authority responsible for licensing, supervising, and monitoring the Principality’s investment to protect investors.
Lastly, there is no such thing as high returns without risk. Beware of opportunities that sound too good to be true, these offers should always raise red flags.
