Magnusson acts for creditors of the Estonian-registered cryptocurrency exchange zondacrypto, operated by BB Trade Estonia OÜ, in the recovery of their deposits. 

On 27 August 2026, on a bankruptcy petition filed by Magnusson, Harju County Court declared BB Trade Estonia OÜ bankrupt and opened bankruptcy proceedings (civil matter no. 2-26-14436).  

To be eligible for distributions from the bankruptcy estate, a creditor must file a declaration of claim with the trustee in the required form and within the statutory deadline. Magnusson is representing affected clients in the submission of their claims. 

To join the bankruptcy proceedings and have Magnusson act for you, please go to  this website  and complete the following steps:  

1. Fill out the client onboarding form.  
2. Sign an engagement letter and a power of attorney.  
3. Upload evidence supporting your claim.  
4. Pay a retainer fee.  

Most clients get through this in about 20 minutes. Once we have your information and documents, we prepare your declaration of claim and represent you in the proceedings.  

Please be informed that the deadlines for the submission of claims are rapidly approaching: 

11 September 2026 – for filing preliminary declarations of claim to carry voting rights at the first general meeting of creditors; 

27 October 2026 – for filing declarations of claim so that they can be recognised in the proceedings. 

Bear in mind that for successful submission of claims within the deadlines it is crucial to provide all the necessary information and evidence regarding your claim with adequate time before. 

You can read more about the bankruptcy proceedings here. 

For further information, please contact us at zondacrypto@magnussonlaw.com.  

Magnusson has direct, hands-on experience running exactly this type of recovery process. In 2023, the Estonian crypto lending platform CoinLoan was declared bankrupt, leaving thousands of creditors with frozen deposits. Magnusson organised a group of affected creditors, prepared and submitted their claims to the bankruptcy trustee, represented the group’s interests before the bankruptcy committee, and closely monitored the trustee’s handling of the estate’s assets throughout the proceedings. 

The CoinLoan case is one example of Magnusson’s considerable experience in matters related to insolvency, crypto-asset disputes, cross-border asset tracking and recovery, and combating international investment fraud. Recent work of Magnusson’s Dispute Resolution & Insolvency team includes legal representation of over 7,000 local and international investors across fifteen jurisdictions in large class action bankruptcy and criminal proceedings, with aggregate damages exceeding EUR 35 million. Magnusson is part of ICC FraudNet, the world’s leading asset recovery legal network, granting direct access to leading cross-border know-howin asset recovery. 

Coverage on our previous experience: 

Magnusson Successfully Represented Creditors in Estonia’s Largest Crypto Bankruptcy

CEE Legal Matters: Magnusson Represents Investors in Fraud Claim Proceedings Against Estonian Crowdfunding Platforms  

Magnusson assisting Lenndy investors with collective efforts to recover their investments