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Polish Olympic Chief Arrested in Zondacrypto Probe

The investigation involves not only possible bribery, but also fraud and money laundering claims around Zondacrypto. The case comes as the exchange has already been under scrutiny for some time and became active in Estonia.

By Luc Vesters
• 2 min read
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Polish Olympic Chief Arrested in Zondacrypto Probe

Key Takeaways

  • Radosław Piesiewicz, chairman of the Polish Olympic Committee, has been arrested in an investigation into Zondacrypto.
  • Prosecutors are looking into possible bribery, fraud, money laundering, and money flows around the crypto exchange.
  • The broader investigation into Zondacrypto has been ongoing since April and includes suspected damage of at least 350 million zloty.

Radosław Piesiewicz, chairman of the Polish Olympic Committee, has been arrested in an investigation into crypto exchange Zondacrypto. Prosecutors are looking into whether he received a financial benefit from the company’s CEO, while the case also broadly centers on possible fraud, money laundering, and money flows around the exchange.

Investigation Into Watch and Gifts

Justice Minister and Prosecutor General Waldemar Żurek confirmed the arrest and said more information will follow after Piesiewicz is questioned. No formal charges have been announced yet. Polish media do say the investigation centers on possible bribery from Zondacrypto.

According to a joint investigation by Wirtualna Polska and TVN24, Zondacrypto CEO Przemysław Kral allegedly gave Piesiewicz a Patek Philippe watch worth about 40,000 euros, along with other gifts. That would be tied to help with problems the exchange had with the Polish competition authority. Piesiewicz denies that he received the watch as a gift. He says he paid for it in cash and that Kral only helped with the purchase. Żurek said the watch is one of the items prosecutors will investigate.

Zondacrypto Has Been Under Fire for a While

The case does not stand alone. The broader investigation into Zondacrypto started in April and concerns suspected fraud and money laundering. Prosecutors previously said the owner admitted the company had not had access for years to a cold wallet with about 4,500 bitcoin. The estimated damage for customers was at least 350 million zloty, or about $94 million (€80.7 million), according to the authorities.

The authorities had already received more than 3,600 complaints in June and have since secured more than 100 million zloty for possible compensation. Last month, the investigation was merged with a case involving the disappearance of Sylwester Suszek, the founder of BitBay, Zondacrypto’s predecessor. In October, the exchange also took on a role as main sponsor of the Polish Olympic Committee for the 2026 through 2028 period.

Why This Also Matters Outside Poland

For European crypto readers, this case shows how quickly a crypto exchange can end up facing criminal, regulatory, and reputational scrutiny at the same time. That is especially relevant because Zondacrypto had already run into oversight issues before and later moved into Estonia. Cases like this can also show how much pressure exchanges are under to keep their operations, custody, and relationships with regulators clear.

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