Radosław Piesiewicz, president of the Polish Olympic Committee, has been arrested in an investigation into alleged improper benefits tied to crypto exchange Zondacrypto.
Prosecutors are examining whether Piesiewicz received financial benefits from executives at the exchange. Waldemar Żurek, Poland’s justice minister and prosecutor general, confirmed the arrest and said more information would be released after questioning is completed. Prosecutors have not formally announced specific charges.
Media reports focus on watch and other gifts
According to a joint investigation by Polish media outlets Wirtualna Polska and TVN24, Zondacrypto chief executive Przemysław Kral is suspected of giving Piesiewicz a Patek Philippe watch worth about 40,000 euros, or around $46,600, along with other gifts. The reported purpose was to secure help in addressing competition-related regulatory issues faced by the exchange in Poland.
Piesiewicz denied receiving gifts. He said he bought the watch himself in cash and that Kral only helped arrange the purchase. Prosecutors said the watch will be examined as part of the case.
Sponsorship deal and broader criminal probe
Zondacrypto became the Polish Olympic Committee’s main sponsor in October last year, and the two sides signed a partnership agreement covering 2026 through 2028.
At the same time, the exchange is facing a wider fraud and money laundering investigation. Prosecutors previously said Zondacrypto had allegedly been unable for an extended period to access a cold wallet holding about 4,500 BTC, with expected user losses of at least 350 million zloty, or about $94 million.
As of June, authorities had received more than 3,600 complaints and frozen more than 100 million zloty for potential compensation. The investigation has also been combined with the case involving the 2022 disappearance of Sylwester Suszek, founder of BitBay, Zondacrypto’s predecessor.