GoKawiilOrlen's oil-for-USDT deal with Venezuela loses $230 million in crypto scams
In 2023, Poland's state-backed Orlen energy group tried to buy 6 million barrels of Venezuelan crude during a sanctions reprieve, hiring intermediary Hannon and UK firm Lexcor Energy to handle the deal in USDT stablecoin. Multiple currency-to-crypto conversions in Dubai went wrong, leaving tens of millions unaccounted for, and a representative who carried USB drives loaded with crypto wallets to Venezuela was reportedly defrauded by fake brokers posing as PDVSA officials.