Security· ★★★· bearish·

Polish Olympic Committee head dismissed over $94 mln crypto scandal

  • —Piesiewicz was arrested on suspicion of kickbacks from Zondacrypto, which signed a sponsorship deal with PKOl
  • —The Zondacrypto collapse is estimated at $94 mln in damage, with about 30,000 people affected
  • —Marian Kmita was named acting president until April, and an immediate audit was announced
  • —Media reported gifts to the former PKOl head, including a $46,605 watch
Why it matters: The Zondacrypto case shows the scale of damage from crypto fraud and the reputational risks of ties to sports organizations.
Source: Bitcoin.com
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