Withdrawal Panic Hits Zonda Amid Wallet Controversy

[tradelikepro]

The situation at Zonda escalated after a sudden surge in withdrawal requests, with over 25,000 requests submitted in a short period — far above normal levels.

Despite the panic, the exchange insists it remains solvent and plans to meet all customer obligations. However, the missing access to a major Bitcoin wallet has intensified debate around exchange transparency, security, and the risks of centralized custody in crypto.

[cryptoenthusiast]

the episode reinforces why audits, multi-sig wallets, and risk management are critical in crypto exchanges