CoinDesk
Radosław Piesiewicz, president of the Polish Olympic Committee, was arrested this week as prosecutors examined whether he received bribes from crypto exchange Zondacrypto in exchange for help clearing regulatory hurdles with Poland's competition authority. Justice Minister and Prosecutor General Waldemar Żurek confirmed the arrest and said more information would follow after Piesiewicz was questioned. Prosecutors have not disclosed charges at this stage, though media outlets suggest Piesiewicz received gifts from the exchange.
A joint investigation by Wirtualna Polska and TVN24 alleged that Zondacrypto chief Przemysław Kral gave Piesiewicz a Patek Philippe watch worth around 40,000 euros ($46,600) and other gifts in return for assistance with the exchange's problems at Poland's competition regulator. Piesiewicz denies receiving the watch as a gift, claiming he paid for it in cash and that Kral only helped arrange the purchase.
Why it matters
The Piesiewicz arrest is the surface-level headline. Underneath sits a much larger fraud and money-laundering probe that prosecutors opened in April, with estimated customer losses of at least 350 million zlotys (around $94 million) and more than 3,600 complaints filed by June. The exchange's owner also acknowledged the platform had lacked access for years to a cold wallet holding roughly 4,500 BTC, the kind of disclosure that turns a regulatory dispute into a contagion event for Polish retail crypto and raises the prospect of years of unresolved claims from customers who can see the assets but cannot reach them.
Market impact
The investigation was merged last month with a probe into the 2022 disappearance of Sylwester Suszek, founder of BitBay, Zondacrypto's predecessor, layering a missing-persons angle onto the financial case. Authorities have already secured more than 100 million zlotys toward potential compensation. For the broader market, the case puts a spotlight on how sponsorship deals can entangle sports institutions with opaque crypto counterparties.
Frequently asked questions
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Who is Radosław Piesiewicz and why was he arrested?
Piesiewicz is the president of the Polish Olympic Committee. He was arrested as prosecutors examine whether he received bribes from crypto exchange Zondacrypto, including a €40,000 Patek Philippe watch allegedly given by the exchange's CEO.
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What are the estimated customer losses tied to Zondacrypto?
Prosecutors estimate customer losses at no less than 350 million zlotys (~$94 million). They had received more than 3,600 complaints by June and have since secured over 100 million zlotys toward potential compensation.
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What happened to the 4,500 BTC?
Zondacrypto's owner acknowledged the platform has lacked access for years to a cold wallet holding roughly 4,500 BTC. The disclosure turned a regulatory dispute into a much larger fraud and money-laundering investigation.
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What is Zondacrypto's relationship with the Polish Olympic Committee?
Zondacrypto became the Polish Olympic Committee's general sponsor in October under a deal covering 2026 through 2028. That sponsorship now sits inside the criminal file as prosecutors examine the broader financial relationships between the exchange and Piesiewicz.
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How does the case connect to the 2022 disappearance of Sylwester Suszek?
The Zondacrypto investigation was merged last month with a probe into the 2022 disappearance of Sylwester Suszek, founder of BitBay, the exchange's predecessor. The merger layers a missing-persons angle onto the financial case.
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