Do you fry in >400 degree oil? There are many foods that are fried in olive oil for example in Spanish food. It seems fine since most frying is done well below the smoke point.
"Monitoring of Quality and Stability Characteristics and Fatty Acid Compositions of Refined Olive and Seed Oils during Repeated Pan- and Deep-Frying Using GC, FT-NIRS, and Chemometrics"
There are several types of olive oils. Extra virgin (with lowest smoking point) is mostly used raw in salads and dressings, etc. Pure or refined(with highest smoking point) mostly used for cooking.