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BB Trade Estonia OÜ: the company behind the zondacrypto exchange

BB Trade Estonia OÜ: participants and roles

Owners, officers, group and sister companies, payment and banking counterparties, auditors and bankruptcy officials connected with BB Trade Estonia OÜ, with the period and support of each role.

published
26 oct 2026
records as of
19 oct 2026
entities
86
sources
122
cite entities.csv
Named in an April 2024 publication on changes of shareholdingsSame registered address: Tähesaju tee 9, TallinnLender: short-term loans of EUR 5 million (2022) and EUR 10 million (2023) at 4%Shareholder (41.4% in 2019, as reported)Same office address (as reported)Auditor of the 2022–2024 consolidated statementsAuditor of the 2019–2020 financial statements (qualified opinion)Its Nassau accounting was invoiced to Orion Software (as reported)Outsourcing provider from June 2024 and lessee of the exchange's infrastructure, software and addresses from 21 February 2025 (as reported)Same registered seat: Aleja Wojciecha Korfantego 141B, KatowiceTripartite partner for zondacrypto Swiss clients: takes orders and handles fiat, which it passes to BB Trade Estonia for executionBanking partner announced for the Swiss brand entityRegistered c/o Neupert, Vuille & Partner, Dufourstrasse 58, ZollikonMember (self-statement)Lender under a credit line (limit EUR 100 million from December 2023), terminated 28 July 2025 (as reported)Account holder (as reported)Holder of B shares / participation certificates (about 1.01%); agreed in January 2025 to sell themCustodian for bitcoin deposits (as reported); migration to BitGo V2 planned for 2024Italian branch of the company (not a separate legal entity), registered with the OAM under No. PSV48Polish branch (oddział) of the companyListed payment operator for client deposits and withdrawals; account holder (as reported)Creditor for prepayments of about EUR 30.45 million at end-2024 and buyer of its services (as reported)Client of Fenige: card-payment agreement (2020); listed payment operator for client deposits and withdrawalsWallet-custody platform for client vaults (as reported from an export)Credited 400,000 USDT and 4.9 million USDC by balance adjustment without an agreement (as reported) (+1)Financed it under an investment agreement (EUR 18.6 million of payments, as reported)Client of Giloca AG for services of EUR 101,316 (2023) and EUR 244,100 (2024) (as reported)Guarantor of Expofer's obligations of up to EUR 567,240 under a contract with ZEN UABParty to an investment agreement of 10 August 2022 setting up the company later named ZND Ventures OÜInvestor making prepayments under an investment agreement (EUR 14.4 million by end-2021) (+1)Listed payment operator (Tpay) for client deposits and withdrawals; account holder (as reported)Lender of EUR 300,000 in 2025, described as a group company (as reported)Lender of EUR 10,000, described as a group company (as reported)Lender: EUR 2.7 million loan to the parent company, repaid in 2022Lender of EUR 407,297 (borrower identified by claimants' counsel) (+1)Lender under a loan agreement of 4 August 2022 (balance about EUR 75 million, as reported)Lender of EUR 500,000, PLN 495,000 and PLN 200,000, unpaid at end-2023 (as reported)Described as a wholly owned subsidiary by claimants' counsel; ownership not shown in the register or the 2024 consolidation listShareholder: 50% in 2022–2023; sole shareholder from 10 January 2024Sole shareholder (100%)Transferred crypto-assets to the Kraken exchange before the withdrawal crisis (as reported)PLN deposits and cash withdrawals through Polish Post officesSeller of AMINA participation certificates for CHF 2,656,250 (as reported; closing not shown)Account holder: designated account for the certificate price; EUR 330,000 transferred on 27 March 2026 (as reported)Account at ZEN.COM used for monthly outgoing transfers (as reported)Party to the contract of 28 December 2020 with ZEN UAB and Expofer (+1)Associate holding of 50%, as shown in the 2024 annual reportReported in its own annual report as having established the company; shareholding not statedSole shareholder (500,000 shares)Earlier operator of the exchange brand; no legal succession shown (+1)Both described as entities using the zondacrypto trademarkCo-founder and first chief executive of SEBA Bank (as reported)DirectorBoard member signing jointly by twoManagement board member (+1)Board memberMember of the executive board (Vorstand)Shareholder (13.8%, as reported)Supervisory board memberDirector and chief executive officerSame registered address (Lõõtsa tn 5, Tallinn) and contact e-mail as BB Trade Estonia in 2019–2020Auditor of the 2021 financial statements (disclaimer of opinion)Registered domicile c/o Dr. André Terlinden, Baarerstrasse 78, ZugInvoiced services of EUR 200,000 (2023) and EUR 400,000 (2024) (as reported)Sole shareholder (10 shares, PLN 5,000)Sole shareholder and parent company (100%, EUR 350,000)100% shareholder according to an aggregator's unverified network viewSole shareholder (EUR 5,000 contribution)Registered beneficial owner through an indirect holdingDescribed as one of its owners50% shareholderSupervisory board memberAcquired the company in 2022; wrote down the shares after its bankruptcySole shareholderBoard member; sole signature from 6 May 2026; liquidator from 16 July 2026Lawyer; partner since 2021 (senior associate 2018–2020)Same registered seat: Ligocka 103, KatowiceLiquidatorBoard member50% shareholderSame registered address: Tähesaju tee 9, TallinnSole shareholder50% shareholder50% shareholderMoney laundering reporting officer, approved by the Financial Intelligence UnitAdvocate representing creditor claims of about EUR 2 million in the bankruptcyMember of the creditors' committee (pankrotitoimkond)Advocate and partner; 25% shareholderPrincipal and directorChief executive officerDirector (as reported)Chief executive from registration; liquidator from 15 September 2025; registered beneficial ownerPresident of the board without signing authority; board member in the 2026 register dataManagement board member and chief executive, able to represent the company alone (+1)Branch director (dyrektor oddziału)Chief executive (+1)Chief executive (+1)Management board memberPartner of the advocates and tax advisers partnershipStatutory director (jednatel)Described as his company in the exchange's 2023 related-party statement (as reported) and as part of his network (press)Largest shareholder (49.8674% at 31 December 2025); registered beneficial owner (+1)President of the management board; registered beneficial ownerPresident of the management board; registered beneficial ownerSole shareholder, as the ZND token white paper is reported to stateDirectorRegistered beneficial ownerRegistered beneficial owner through an indirect holdingProcurator from 28 June 2023; management board member from 20 April 2026; registered beneficial owner (indirect)Board memberSole statutory director (konateľ)Trustee in bankruptcy, earlier interim administratorSole shareholder and parent companyFormer 100% shareholder according to an aggregator's unverified network viewShareholderLaw office that represented the creditor whose petition led to the bankruptcy declarationProcurator (prokurist)Sworn auditor who signed the disclaimer of opinion on the 2021 statementsMember of the creditors' committee (pankrotitoimkond)Undertook to recapitalise Expofer up to PLN 100 million (as reported)Provided payment services (money remittance) under a cooperation agreement, including Polish Post withdrawalsExchange operations transferred to BB Trade Estonia (as reported); no legal succession shownMember of the creditors' committee (pankrotitoimkond)Leads the team as licensed restructuring adviserDirectorManagement board member; later also director of risk and complianceLargest shareholder (44.8% in 2019, as reported)Management board member and chief executive (+1)Sole shareholder, registered beneficial owner and supervisory board memberFirst and sole shareholder at incorporation (as reported)DirectorManagement board member; registered beneficial owner (indirect)Board memberDescribed as one of its ownersSupervisory board member50% shareholder and sole management board memberManagement board memberBoard memberCommercial proxy (prokurent), then chief executiveManagement board member; chairman from spring 2020 (+1)Sole shareholder and management board memberSigned for the company as its executive (jednatel) on 2 March 2020 (as reported)Supervisory board memberDirectorNamed as sender of EUR 1,041,826.22 and PLN 1,323,493.15 received in June 2023 (as reported; control of the sending account open)Director and legal representative; sole director from 22 June 2021Director and owner (as reported)DirectorPartner (49%) and manager, per register printouts described by claimants' counselSole management board member and sole shareholderSworn auditor who signed the qualified opinion on the 2020 statementsChair of the board at registration; later board memberSole board member with sole signaturePartner and shareholder of the law firm (press report)President of the board with sole signaturePayment institution providing payment services under a partnership agreementTook over Payment Technology's agreement with BB Trade Estonia by assignmentManagement board memberSworn auditor who signed the opinions on the 2022–2024 statementsChair of the supervisory boardCompliance officer and money laundering reporting officer50% shareholderSole shareholder (50% before, as reported)Dawid GrzegorzSendeckiDawid Grzegorz SendeckiSamuel WilkinsonSamuel WilkinsonGiloca AGGiloca AGZEN UABZEN UABAMINA Bank AG(formerly SEBABank AG)AMINA Bank AG (formerly SEBA Bank AG)Anton MulloAnton MulloCrowe DNW OÜCrowe DNW OÜLiina TammLiina TammAudit Advisory OÜAudit Advisory OÜPoczta PolskaPoczta PolskaSygnum Bank AGSygnum Bank AGPayment Technologysp. z o.o.A10 · A11Payment Technology sp. z o.o.A10: KNF fine of PLN 200,000 for anti-money-laundering breaches (final decision published 13 June 2025) · A11: Declared bankrupt in 2024BB Trade BahamasLtdBB Trade Bahamas LtdBB Trade LithuaniaUABBB Trade Lithuania UABGuido BühlerGuido BühlerS.B. Bay FZES.B. Bay FZECreative InvestInt OÜCreative Invest Int OÜAdmiTrade OÜAdmiTrade OÜDawid MateuszDuniecDawid Mateusz DuniecAssertum Audit OÜAssertum Audit OÜSergei TšistjakovSergei TšistjakovPayward Ltd.(Kraken)Payward Ltd. (Kraken)TryPay S.A.A12TryPay S.A.A12: Board resolved insolvency and a bankruptcy filing (30 April 2026)Orion Software sp.z o.o.Orion Software sp. z o.o.: Katowice IT company wholly owned by BB Trade Estonia OÜEXPOFÉR SERVISHOUSE s.r.o.EXPOFÉR SERVIS HOUSE s.r.o.Luxbay SALuxbay SASylwester JanSuszekSylwester Jan Suszek: Chief executive of BitBay sp. z o.o.; beneficial owner and board chairman of BB Trade Estonia OÜ in 2020–2021; missing since March 2022BB Trade EstoniaOÜA1 · A2 · A3 · A4 · A5 · A6BB Trade Estonia OÜ: Operator of the exchange marketed as BitBay, Zonda and zondacrypto; declared bankrupt on 26 August 2026A1: Licence FVT000209 partially suspended (18 May 2026) and revoked (29 June 2026) by the Estonian FIU · A2: FIU precept for a missing auditor report on own funds (16 July 2025) · A3: Finantsinspektsioon public warning on the TMPL white paper (6 May 2026) · A4: Polish consumer-protection (UOKiK) proceedings opened January 2025, as reported; outcome not known · A5: Polish criminal investigation concerning the Zondacrypto exchange (opened 17 April 2026); no charge against the company recorded · A6: Declared bankrupt by Harju County Court (26 August 2026)ICEO RED 0 OÜICEO RED 0 OÜBitBay sp. z o.o.A9BitBay sp. z o.o.A9: KNF notification of a suspected unauthorised payment-services offence; investigation discontinued 15 June 2022Skybay Investmentin CommercialEnterprises L.L.C.Skybay Investment in Commercial Enterprises L.L.C.Marek KeimanMarek KeimanCentral BayInvestment inCommercialEnterprises L.L.C.Central Bay Investment in Commercial Enterprises L.L.C.Femion TechnologyS.A.A13Femion Technology S.A.A13: Board resolved insolvency and a bankruptcy filing (30 April 2026)BB Trade Polandsp. z o.o.BB Trade Poland sp. z o.o.Przemysław JanuszKralA7Przemysław Janusz Kral: Chief executive and management board member of BB Trade Estonia OÜ; its registered beneficial ownerA7: Procedural status in the Polish investigation not disclosed by prosecutors; officials' accounts differ (2026)Divisio Holding AGDivisio Holding AG: Zug holding company; sole shareholder of BB Trade Estonia OÜBB TradeSwitzerland AGBB Trade Switzerland AG: Swiss entity of the zondacrypto brand; dissolved by its general meeting on 16 July 2026ZND Ventures OÜZND Ventures OÜZND.CO OÜZND.CO OÜFenige S.A.Fenige S.A.Arial Investmentin CommercialEnterprises L.L.C.Arial Investment in Commercial Enterprises L.L.C.AdvokaadibürooMagnusson OÜAdvokaadibüroo Magnusson OÜGiorgio ChielliniGiorgio Chiellinizondacrypto SK, s.r. o.zondacrypto SK, s. r. o.Seed Investmentssp. z o.o.Seed Investments sp. z o.o.Zonda Token AGA8Zonda Token AGA8: Dissolved by court order for organisational deficiencies (2026); bankruptcy suspended for lack of assetsAndré MarcelTerlindenAndré Marcel TerlindenPinewood HoldingsLimitedPinewood Holdings LimitedPaweł ŁukaszSobkówPaweł Łukasz SobkówWojciech PiotrSrokaWojciech Piotr SrokaIceo group AGIceo group AGKrajowy IntegratorPłatności S.A.(Tpay)Krajowy Integrator Płatności S.A. (Tpay)BB Trade EstoniaOÜ, Italian branch(BB Trade IT)BB Trade Estonia OÜ, Italian branch (BB Trade IT)Veronika TugoVeronika TugoS&B Investment SAS&B Investment SAKarolina EwaGwóźdźKarolina Ewa GwóźdźDigesta Pro sp. zo.o.Digesta Pro sp. z o.o.Swiss BlockchainFederationSwiss Blockchain FederationNeupert VuillePartners AGNeupert Vuille Partners AGICO HOUSE S.A.ICO HOUSE S.A.BeOne Group AGBeOne Group AGBeOne Europe SIABeOne Europe SIAClear JunctionLimitedClear Junction LimitedZonda GibraltarLtdZonda Gibraltar LtdRobert NogackiRobert NogackiReece ChipmanReece ChipmanADMI BUSINESSSERVIS s.r.o.ADMI BUSINESS SERVIS s.r.o.FundacjaZondacryptoFundacja ZondacryptoBB Trade EstoniaOÜ, Polish branch(Oddział w Polsce)BB Trade Estonia OÜ, Polish branch (Oddział w Polsce)Timo Fabian FennerTimo Fabian FennerReet JurikReet JurikBitGoBitGoMargus LentsiusMargus LentsiusGeorgi DžaniašviliGeorgi DžaniašviliJuventus F.C.S.p.A.Juventus F.C. S.p.A.FC FloraFC FloraBB Trade FloridaInc.BB Trade Florida Inc.Decori sp. z o.o.Decori sp. z o.o.Duraj, Reck & KralAdwokaci, DoradcyPodatkowi sp.p.Duraj, Reck & Kral Adwokaci, Doradcy Podatkowi sp.p.Incore Bank AGIncore Bank AGKrajowe CentrumObsługi Długów sp.z o.o.Krajowe Centrum Obsługi Długów sp. z o.o.DamianPrzybyłowskiDamian PrzybyłowskiLL (BVI)Investment LimitedLL (BVI) Investment LimitedBB Trade (Cyprus)LimitedBB Trade (Cyprus) LimitedFireblocksFireblocks

Solid line: documented. Amber dashed: reported. Grey dotted: hypothesis. One arrow: the relationship as stated; two arrows: reciprocal; no arrow: symmetric. A path between two parties does not transfer an allegation from one to the other.

every party and relationship in full, as text ↓

Information markers
  • A1 · Licence FVT000209 partially suspended (18 May 2026) and revoked (29 June 2026) by the Estonian FIU — BB Trade Estonia OÜ
  • A2 · FIU precept for a missing auditor report on own funds (16 July 2025) — BB Trade Estonia OÜ
  • A3 · Finantsinspektsioon public warning on the TMPL white paper (6 May 2026) — BB Trade Estonia OÜ
  • A4 · Polish consumer-protection (UOKiK) proceedings opened January 2025, as reported; outcome not known — BB Trade Estonia OÜ
  • A5 · Polish criminal investigation concerning the Zondacrypto exchange (opened 17 April 2026); no charge against the company recorded — BB Trade Estonia OÜ
  • A6 · Declared bankrupt by Harju County Court (26 August 2026) — BB Trade Estonia OÜ
  • A7 · Procedural status in the Polish investigation not disclosed by prosecutors; officials' accounts differ (2026) — Przemysław Janusz Kral
  • A8 · Dissolved by court order for organisational deficiencies (2026); bankruptcy suspended for lack of assets — Zonda Token AG
  • A9 · KNF notification of a suspected unauthorised payment-services offence; investigation discontinued 15 June 2022 — BitBay sp. z o.o.
  • A10 · KNF fine of PLN 200,000 for anti-money-laundering breaches (final decision published 13 June 2025) — Payment Technology sp. z o.o.
  • A11 · Declared bankrupt in 2024 — Payment Technology sp. z o.o.
  • A12 · Board resolved insolvency and a bankruptcy filing (30 April 2026) — TryPay S.A.
  • A13 · Board resolved insolvency and a bankruptcy filing (30 April 2026) — Femion Technology S.A.

Markers apply only to the named participant. They do not transfer allegations to connected parties.

Participants 86

Subject

  • BB Trade Estonia OÜ Operator of the exchange marketed as BitBay, Zonda and zondacrypto; declared bankrupt on 26 August 2026 also known as Pinewood Estonia OÜ

Leadership

Group companies

Counterparties

Historical

Other

Relationship register 175

chronology

  1. Pinewood Estonia OÜ is entered in the Estonian Commercial Register c-id-register c-id-former-name
  2. Operation of the BitBay exchange passes to the Estonian company, as claimants' counsel reports c-brand-bitbay-licensing c-brand-lineage
  3. Renamed BB Trade Estonia OÜ; Paweł Sobków transfers all shares to Luxbay SA c-id-former-name c-own-sobkow-luxbay-2020
  4. BB Trade Switzerland AG is registered in Zug c-grp-bbts-incorporation
  5. Virtual-currency service licence (later FVT000209) takes effect c-lic-fvt-2020 c-lic-fiu-revocation-2026
  6. Divisio Holding AG is entered in the commercial register of Zug c-own-divisio-registry
  7. Divisio Holding AG acquires the company and Przemysław Kral becomes its beneficial owner c-own-divisio-2021 c-own-register-history
  8. The exchange is rebranded Zonda Global c-brand-zonda-2021
  9. Przemysław Kral joins the management board c-mgmt-board-2021 c-mgmt-register-card-2026
  10. Acquisition of Zonda Token AG, as recorded in the 2021 annual report c-grp-zonda-token-acquisition
  11. Prosecutors open an investigation into the unlawful deprivation of liberty of Sylwester Suszek c-crim-merger
  12. TryPay takes over the payment-services agreement from Payment Technology c-pay-trypay-2022
  13. Prosecutors discontinue the investigation opened on the KNF notification about BitBay sp. z o.o. c-brand-knf-warning
  14. Registration with the Italian OAM under No. PSV48 c-lic-oam-2022
  15. Acquisition of 100% of Orion Software sp. z o.o. c-rpt-orion-advances
  16. Credit-line agreement with AdmiTrade OÜ, as claimants' counsel reports c-rpt-admitrade-line
  17. Auditor disclaims an opinion on the 2021 financial statements c-ast-audit-2021-disclaimer
  18. Listed in the CySEC register of EEA crypto-asset service providers c-lic-cysec-2024
  19. ZND token generation event c-rpt-znd-issue
  20. Polish branch is entered in the KRS c-grp-pl-branch
  21. Agreement to sell the AMINA Bank participation certificates, as claimants' counsel reports c-pay-amina-sale
  22. Supervisory board formed ahead of a MiCA application c-mgmt-restructuring-2025
  23. FIU precept over a missing auditor report on own funds c-lic-fiu-precept-2025
  24. Credit line with AdmiTrade terminated, as claimants' counsel reports c-rpt-admitrade-termination
  25. Unqualified audit opinion on the 2024 consolidated statements c-ast-audit-2024
  26. Katowice prosecutors open the investigation concerning Zondacrypto c-crim-katowice-opened c-crim-cold-wallet-statement
  27. Supervisory board members resign; TryPay terminates its payment services c-mgmt-supervisory-resignations c-pay-trypay-termination
  28. TryPay and Femion boards resolve to file for bankruptcy c-pay-trypay-insolvency c-pay-femion-insolvency
  29. Finantsinspektsioon warns about the TMPL white paper c-lic-efsa-warning-2026
  30. Katowice prosecutors report seizures and nearly 2,000 complaints c-crim-may-update
  31. FIU partially suspends the licence and issues a precept c-lic-fiu-suspension-2026
  32. Joint Polish–Estonian investigation team is set up c-crim-june-update
  33. FIU revokes licence FVT000209 c-lic-fiu-revocation-2026
  34. Zondacrypto investigation merged into the Suszek case (19 or 30 July 2026) c-crim-merger
  35. Bankruptcy proceedings begin before Harju County Court c-crisis-court-ruling
  36. BB Trade Switzerland AG is dissolved by its general meeting c-grp-bbts-liquidation
  37. Court bars disposals without the interim administrator's consent, as reported c-crisis-disposal-ban
  38. Court dissolves Zonda Token AG for deficiencies in its organisation c-grp-zonda-token-dissolution
  39. Harju County Court declares BB Trade Estonia OÜ bankrupt c-crisis-court-ruling c-crisis-bankruptcy-notice
  40. Prosecutors announce charges against Radosław P. c-crim-radoslaw-p
  41. Charges against Anna P., Jaromira W. and Rafał Z. c-crim-anna-p c-crim-jaromira-w c-crim-rafal-z
  42. First creditors' meeting keeps the trustee and elects a committee c-crisis-first-meeting
  43. Prosecutors announce charges against Artur K. c-crim-artur-k
  44. Bankruptcy of Zonda Token AG suspended for lack of assets c-grp-zonda-token-bankruptcy
  45. Creditors' committee entered in the register c-crisis-committee-register

cite this dossier

DossierTwist, “BB Trade Estonia OÜ: the company behind the zondacrypto exchange”, dt.027, 26 October 2026, https://dossiertwist.com/dossiers/bb-trade-estonia-ou/

Free to read, cite and republish with credit under CC BY 4.0: credit “DossierTwist” and link to the dossier.

Data: JSON, CSV and the network graph.

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