KEYTAKEAWAYS
- Venezuela blocks Binance and X amid presidential election controversy.
- Binance assures users of fund safety and monitors the situation closely.
CONTENT
Venezuelan government restricts access to major cryptocurrency exchange and social media platform as election dispute intensifies. Binance reassures users of fund safety while recommending VPN usage to bypass restrictions.
In a recent development that has sent shockwaves through Venezuela’s digital landscape, the government has blocked access to Binance, the world’s largest cryptocurrency exchange, and X (formerly Twitter), amid escalating tensions over disputed presidential election results.
On August 9, VE sin Filtro, a local anti-censorship organization, reported detecting a DNS block on Binance, affecting both its website and mobile application. Binance’s Latin American-focused X account confirmed the restrictions, stating, “Like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions.”
🚨 Bloqueado Binance en CANTV 🚨
Esta noche detectamos un bloqueo DNS al exchange de criptomonedas @Binance, el cual afecta el normal funcionamiento de su web y su aplicación móvil.
El bloqueo fue detectado por primera vez a las 8:15 PM de hoy #9Ago pic.twitter.com/aivmVT2VNi
— VE sin Filtro (@vesinfiltro) August 10, 2024
Estimados Binancians,
Al igual que varios sitios web de empresas de diferentes segmentos en Venezuela, incluidas las redes sociales, las páginas de Binance han estado enfrentando restricciones de acceso.
Queremos asegurarles que sus fondos están SAFU bajo nuestros robustos…
— Binance Latinoamérica (@BinanceLATAM) August 10, 2024
The cryptocurrency exchange moved swiftly to reassure its users, emphasizing that their funds remain secure. Binance stated it is “monitoring the situation closely to address it in the best and quickest way possible.” The exchange’s peer-to-peer (P2P) service, which allows direct crypto-cash exchanges, has been particularly popular in Venezuela as citizens seek alternatives to the highly inflated bolívar.
The blockade extends beyond Binance, with President Nicolas Maduro ordering a ten-day ban on X access in the country. This move follows a public disagreement between Maduro and X owner Elon Musk. Additionally, the encrypted messaging app Signal has also been affected by the restrictions.
>> Also read: Elon Musk Accepts Challenge to Fight Venezuelan President
These digital crackdowns come in the wake of widespread protests following the July 28 presidential election. Both Maduro and rival candidate Edmundo González have claimed victory, with the government-controlled electoral authority declaring Maduro the winner with 51% of the vote. However, González disputes this, asserting that voting machine printouts show he secured nearly 70% of the votes.
The international community, including the United States, European Union, United Kingdom, and several South American countries, has not recognized Maduro’s claim to the presidency, calling for detailed vote counts.
As tensions continue to rise, VE sin Filtro recommends Venezuelans use VPNs to circumvent the blocks, highlighting the growing importance of digital rights and internet freedom in times of political uncertainty.
