Radosław Piesiewicz, head of the Polish Olympic Committee (PKOl), said there were no grounds at present to terminate the sponsorship agreement with the Zondacrypto cryptocurrency exchange.

Speaking at a press briefing on Monday, he said the company had so far met its obligations to the committee and that ending the contract would trigger a penalty PKOl could not afford.

His comments came as prosecutors in southern Poland investigate Zondacrypto after hundreds of people reported being unable to withdraw funds held on the platform.

On Friday, estimated losses were put at PLN 350 million (around EUR 80 million, USD 100 million), and that figure may rise.

UOKiK otrzymał ponad 200 sygnałów związanych z Zondacrypto