Estonian court declares Zondacrypto bankrupt; liabilities €432M vs €167K assets

An Estonian court has declared the bankruptcy of Zondacrypto, a cryptocurrency exchange operator, with liabilities of at least €431.9 million against disclosed assets of only €167,000. The massive shortfall suggests potential fraud or mismanagement, though the full extent of creditor claims and any recovery prospects remain unclear. This highlights systemic risks in the crypto sector and may trigger regulatory scrutiny.