The Polish Olympic Committee (PKOl) is defending its sponsorship deal with cryptocurrency exchange Zondacrypto amid financial difficulties and allegations of Russian ties.
PKOl Maintains Contract, Awaits Payment
The PKOl states it currently has no legal grounds to terminate its contract with Zondacrypto, as the sponsor continues to fulfill its obligations. Breaking the contract would incur a penalty the PKOl cannot afford. The next scheduled payment is expected at the end of April.
Zondacrypto’s Sponsorship Obligations and Athlete Payments
Zondacrypto is obligated to pay 1.38 million złoty to Polish athletes, including medalists and those placing 4th-8th in the recent Winter Olympics. However, some athletes report difficulty converting the awarded tokens into cash.
PKOl’s Defense and Communication with ABW
PKOl President Radosław Piesiewicz defended the agreement, stating the organization was unaware of issues with Zondacrypto at the time of signing. He revealed the PKOl sent a letter to the Internal Security Agency (ABW) in October 2025, requesting information on potential risks associated with sponsoring companies offering unconventional products and services, but has yet to receive a response.
Concerns Over Russian Influence and Lack of Warning
Piesiewicz expressed frustration that the PKOl was not informed about alleged Russian mafia connections to Zondacrypto, despite the ABW reportedly possessing this information for months. He questioned why the government did not disclose this information earlier.
Sponsorship Withdrawals and Growing Criticism
Several sports clubs, including Raków Częstochowa, Dziki Warszawa, and GKS Katowice, have already terminated their sponsorship agreements with Zondacrypto. The exchange also sponsors other sports teams and athletes, including those in Italy.
Investigation Launched and Rising Losses
A criminal investigation into Zondacrypto was launched by the Śląsk prosecutor’s office on April 17th, led by the Central Bureau of Cybercrime. The estimated losses are currently at 350 million złoty and continue to grow, with hundreds of investors reportedly affected.
UOKiK Review and Questions of Foreseeability
The Office for Competition and Consumer Protection (UOKiK) began reviewing Zondacrypto in January. Piesiewicz questioned why the PKOl was expected to foresee the current situation, asking how the organization could have independently verified potential connections.