Poland loses $400M in failed cryptocurrency oil trade with Venezuela
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4 Articles
Orlen Sent $330 Million to Dubai for Venezuelan Oil and Got Nothing Back
Poland's state refiner Orlen sent $330 million to two Dubai-based middlemen for Venezuelan crude that never showed up. Prosecutors now believe the money was converted into cryptocurrency and disappeared, with total losses near $400 million and three former managers facing up to 25 years in prison.
An ambitious attempt by Polish state-controlled Orlen to buy cheap oil from Venezuela has turned into a financial and political nightmare: $230 million in advances remain to be recovered. The total… FT: How Poland lost $230 million trying to buy Venezuelan oil with cryptocurrencies - ΙΝΑΦΤΕΜΟΠΟΡΙΚΙ
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapPoland loses $400M in failed cryptocurrency oil trade with Venezuela
Poland's $400M loss highlights the risks of crypto in sanctioned trades, underscoring vulnerabilities in global oil markets and regulatory gaps.
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