Venezuela is becoming a key hub for illegal gold coming from the Amazon region. A new report from the Global Initiative Against Transnational Organized Crime. That says many of these gold deals are now being settled with Tether instead of traditional money.
The report says this trade generated about $2.2 billion in revenue in 2025. Traders are using USDT because it allows quick payments and can move across borders easily. Concurrently, authorities say this trend makes it harder to track illegal activity tied to gold mining.
Venezuela Becoming a Gold Trading Hub
The report explains that Venezuela has become an important destination for illegal gold from the Amazon region. Much of this gold comes from areas in Brazil and Guyana. It is transported across borders using hidden routes and small aircraft. Once it reaches Venezuela, it is sold through local networks
Experts link the country’s gold sector to criminal groups and corruption. Some armed groups control mining areas and trafficking routes. As gold prices rise worldwide, illegal mining has expanded across the Amazon region.
USDT Used for Payments
One key finding in the report is the growing use of USDT stablecoins in these deals. Traders often prefer USDT because it is fast and cheap to transfer. It also avoids traditional banking systems, which are harder to use because of sanctions. Because of this, traders now settle some gold deals directly with USDT instead of cash or bank transfers. Researchers say this shift makes it easier for smugglers to move money. Without going through normal financial channels.
Sanctions and Crypto Shift
International sanctions on Venezuelan gold have also played a role. The United States has imposed sanctions on the country’s gold sector in recent years. These constraints hinder access to global markets. Therefore, some traders turned to crypto payments to bypass these limits. Using digital assets allows buyers and sellers to complete deals without relying on banks. Yet experts say this trend also creates new challenges for law enforcement.
Environmental and Crime Concerns
Illegal gold mining in the Amazon is responsible for severe environmental damage. Mining operations frequently cause deforestation. It poisoned the rivers and affected residents. Mining has spread to protected areas and Indigenous territory throughout the region. Authorities say criminal networks also profit from the trade.
With this, governments and international groups are now looking for new ways to track illegal gold flows. Additionally, the use of crypto in these activities. The report also warns that the combination of illegal mining and digital payments. That could make the trade even harder to control in the future.
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