Polish Olympic Committee president Radosław Piesiewicz has been detained as prosecutors investigate the collapse of cryptocurrency platform Zondacrypto, a former main sponsor of Poland’s Olympic team.
Poland’s justice minister and prosecutor general, Waldemar Zurek, confirmed the detention on 27 August and said prosecutors intend to bring charges against Piesiewicz. The case forms part of a wider criminal inquiry into alleged large-scale fraud and the suspected illicit financing of individuals and organisations linked to Poland’s right-wing political opposition.
Zondacrypto, which previously played a prominent role in funding Poland’s Olympic team, collapsed in April. Its former chief executive, Przemysław Kral, left for Israel and is reported to have subsequently fled abroad. Prosecutors estimate that customers lost at least $94m.
The investigation gained further attention following reporting by The New York Times and joint investigations by Polish outlets Wirtualna Polska and TVN. Their reports examined Zondacrypto’s operations and its relationships with prominent public figures across Europe.
They alleged that Kral gave Piesiewicz expensive gifts, including a luxury watch worth $46,605, in return for the Olympic committee president using his influence to intervene with UOKiK, Poland’s consumer protection authority, on behalf of the cryptocurrency exchange.
Piesiewicz has rejected the allegations. He said he paid for the watch himself and that Kral’s involvement was limited to helping arrange the purchase.
Zondacrypto agreed a partnership with the Polish Olympic Committee in 2025, during Piesiewicz’s presidency. Under the deal, the platform became the official sponsor of Poland’s team for the 2026 Winter Olympics in Italy.
The agreement later became a source of tension after Zondacrypto failed to provide financial bonuses promised to Olympic athletes. The dispute contributed to a motion calling for Piesiewicz to be removed from office. It was signed by 82 of the Polish Olympic Committee’s 106 board members.
Piesiewicz has been a divisive figure since becoming PKOl president in 2023 under the previous national-conservative Law and Justice (PiS) government. His relationship with Prime Minister Donald Tusk’s administration deteriorated after Poland recorded a poor medal haul at the 2024 Paris Olympics, leading to public clashes between the two sides.
The prosecutor’s investigation is also examining Zondacrypto’s financial connections with a number of political and media organisations. Zurek said inquiries include foundations associated with PiS deputy leader Zbigniew Ziobro, Confederation politician Przemysław Wipler, conservative broadcaster Telewizja Republika and Polish organisers of the Conservative Political Action Conference (CPAC).
Tusk has claimed that Russian organised crime and intelligence interests were involved in the company’s financial backing, using the controversy to attack his political opponents. Those claims form part of a wider political dispute over cryptocurrency regulation in Poland.
Tusk’s governing coalition has tried three times to introduce legislation regulating the cryptocurrency market. Each attempt has been blocked by a veto from President Karol Nawrocki, an ally of the opposition who argues that the proposed rules would limit financial freedoms.
The prosecution is continuing its inquiry into Zondacrypto following Kral’s departure for Israel. Piesiewicz’s detention marks the latest development in a case that now involves the collapse of a major cryptocurrency platform, the finances of Olympic sport and alleged links to political organisations.
