Polish Olympic Committee Fires President Amid $94M Crypto Scandal

The Polish Olympic Committee (PKOl) has dismissed its president, Radoslaw Piesiewicz, after his arrest on corruption charges linked to the collapse of cryptocurrency exchange Zondacrypto. Marian Kmita was appointed acting president on September 14 and will lead the committee until a permanent election in April.

Leadership Change

Kmita told reporters that the executive board voted unanimously to remove Piesiewicz and install him as interim head. The change comes after months of internal dissent, including a formal protest by 15 committee members over the Olympic sponsorship deal with Zondacrypto.

Crypto Sponsorship Fallout

Piesiewicz had negotiated a high‑profile sponsorship with Zondacrypto, which later collapsed in a Ponzi‑type scheme. Polish authorities allege the exchange paid kickbacks, including a luxury watch valued at $46,605, in exchange for influence over the consumer protection authority UOKiK.

Financial Impact and Audit

Government estimates place the loss from Zondacrypto’s failure at roughly $94 million, affecting about 30,000 investors. Kmita said the scandal has left the PKOl in a “rather difficult financial situation” and announced an immediate audit to determine the full extent of the damage.

Ongoing Investigation

The investigation, launched in April, also links Zondacrypto to nationalist opposition groups, organized crime, and alleged Russian intelligence ties. Sports federations across Poland have called for Piesiewicz’s resignation, and the criminal probe remains active.