Estonian Regulator Partially Suspends Zondacrypto Crypto Exchange License
Estonia's Financial Intelligence Unit (FIU) has partially suspended the license of BB Trade Estonia OÜ, which operates under the Zondacrypto brand. Under this decision, the company is prohibited from onboarding new clients and accepting deposits, though existing users retain the ability to withdraw their funds. This was reported by Cointelegraph.com reports .
The regulator stated that the company has 30 days to comply with established legislative requirements. If the deficiencies are not addressed within this period, the FIU will be forced to fully revoke the company's operating license. Specific details of the violations have not yet been disclosed.
The situation surrounding Zondacrypto has become increasingly complex recently. In particular, the inability to access approximately 4,500 Bitcoin (worth about 345.9 million USD) stored in one of the exchange's cold wallets and reports of user withdrawal issues have raised serious concerns.
Furthermore, the Estonian Financial Supervision Authority (FSA) previously issued a warning that the company's "TeamPL" crypto token violated the European Union's MiCA regulations. Currently, according to CoinGecko data, trading activity on the exchange is virtually non-existent, and it has become impossible to contact company representatives.
