Olympic Chief Detained in Zondacrypto Fraud Probe

Radosław Piesiewicz, president of Poland's Olympic Committee (PKOl), has been detained in connection with a probe into Zondacrypto, a collapsed cryptocurrency firm that sponsored the Polish team for the 2026 Winter Olympics. According to Waldemar Żurek, Poland's justice minister and prosecutor general, prosecutors intend to press charges against Piesiewicz as part of a broader investigation into alleged large-scale fraud and illicit financing tied to Poland's right-wing political opposition.

The probe is linked to allegations that former Zondacrypto chief executive Przemysław Kral provided Piesiewicz with lavish gifts, including a $46,605 luxury watch, in exchange for the Olympic chief's influence to intervene on behalf of the exchange with UOKiK, Poland's consumer protection authority. Piesiewicz denied the allegations, stating he purchased the watch using his own funds and that Kral merely assisted in facilitating the transaction.

Zondacrypto signed an agreement with PKOl in 2025 under Piesiewicz's leadership, naming the platform the official sponsor of the Polish team for the 2026 Winter Olympics. However, the firm collapsed in April, and Kral reportedly fled abroad, leaving behind clients who lost at least $94 million.