Zondacrypto creditors meet in Estonia as claims near 2,000

  • Zondacrypto creditors began bankruptcy proceedings against operator BB Trade Estonia OÜ in Tallinn.
  • Just under 2,000 creditors had filed claims, while BB Trade owed €432 million.
  • The claims deadline is October 27, and creditors must file with the trustee.

Creditors of Zondacrypto, Poland’s largest crypto exchange, began bankruptcy proceedings in Tallinn to recover assets after liquidity problems blocked customers from withdrawing funds and accessing accounts. Margus Lentsius, the bankruptcy trustee for BB Trade Estonia OÜ, said just under 2,000 claims had been filed and that number would rise. BB Trade owes €432 million but has assets valued at about €167,000, while authorities have secured more than 100 million Polish złoty ($26 million) and French prosecutors seized €4 million ($4.5 million). Claims must be submitted by October 27; estimates put total creditor demands above €700 million, or more than $800 million.

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