How Poland Lost $424 Million in Venezuela Oil Deal Through Crypto | FP Explains

By Firstpost

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Poland’s state-controlled energy giant Orlen lost around $424 million in a failed Venezuela oil deal involving cryptocurrency and USDT. Orlen expected six million barrels of Venezuelan crude after transferring hundreds of millions of dollars to a Dubai-based intermediary. But the oil never arrived as planned. More than $132 million in USDT was moved through crypto brokers, while six tankers waited off Venezuela. Three former Orlen executives now face criminal charges in Poland, as the company seeks to recover the money through legal proceedings. So how did a $424 million Poland-Venezuela oil deal turn into a crypto-fuelled corporate loss? We explain. --- Orlen | Poland Orlen | Orlen Venezuela | Venezuela Oil | Poland Venezuela Oil Deal | $424 Million Oil Deal | Firstpost #orlen #poland #venezuela #venezuelaoil #oildeal #orlenvenezuela #crypto #firstpost Firstpost is an Indian news and media website. Get all the incisive opinions, in-depth analyses and other visual stories that

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