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The Venezuelan government has restricted access to several online platforms, including the popular cryptocurrency exchange Binance and the social media site X.
This access restriction comes amid heated political unrest following the controversial July 28 presidential election.
In an August 9 statement, VE sin Filtro, a local anti-censorship organization, noted that these restrictions were enforced through DNS blocks. It disrupts the normal functionality of Binance’s website and mobile application.
🚨 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
Following the incident, Binance, which is a crucial crypto exchange for many Venezuelans due to its peer-to-peer (P2P) services, reassured users that their funds remain safe despite the access issues.
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
As Venezuela’s government blocks digital platforms, internet tracker NetBlocks is also facing accessibility issues, prompting users to turn to VPNs to bypass restrictions.
Meanwhile, Signal’s encrypted messaging app remains accessible for users who have enabled its “censorship circumvention” feature, allowing them to stay connected.
Notably, the crackdown on digital platforms comes amid increasing tensions between Venezuelan President Nicolás Maduro and tech mogul Elon Musk.
Following a disputed presidential election last month, in which both Maduro and his rival Edmundo González both claimed victory, Maduro ordered a 10-day ban on X, enforced by the country’s telecommunications regulator, Conatel.
This latest move followed a public spat where Musk labeled Maduro a “dictator” and a “clown,” prompting Maduro to accuse Musk of spreading “hatred, fascism, and civil war.”
The social media platform is perceived to have further fueled the political unrest in Venezuela.
The owner of X, that isn’t a Venezuelan, is over here trying to influence an election in Venezuela on X. If Maduro bans X in Venezuela Elon will start talking about some freedom of speech https://t.co/ziztDHj84U
— Distinguished BushPilot Iby (@Blakjizuz) July 28, 2024
Political Unrest and International Response
In late July, the government-controlled electoral authority in Venezuela declared Maduro the winner, but the lack of detailed vote counts has sparked widespread protests and allegations of fraud.
BREAKING: Maduro declared winner amid opposition claims of irregularities
Venezuela's government faced its most challenging electoral test in decades with Sunday’s presidential elections.
President Nicolas Maduro was declared the winner amid opposition claims of… pic.twitter.com/iK0I9pmnJj
— Brian Allen (@allenanalysis) July 29, 2024
Consequently, the United States, the European Union, the United Kingdom, and several South American countries have refused to recognize Maduro’s victory, demanding transparency in the election process.
🇻🇪 | Situation NOW
🟢 Nicolas Maduro's victory recognized
1. Bolivia 🇧🇴
2. Cuba 🇨🇺
3. Nicaragua 🇳🇮
4. Honduras 🇭🇳
5. Russia 🇷🇺
6. Iran 🇮🇷
7. China 🇨🇳
8. Syria 🇸🇾
9. Madagascar 🇲🇬
10. Qatar 🇶🇦
11. Serbia 🇷🇸
12. Guinea-Bissau 🇬🇼🟡 Transparent counting of results requested
1.…— BowTiedMara (@BowTiedMara) July 29, 2024
However, as Venezuela’s political situation deteriorates, more citizens are turning to cryptocurrencies to protect their wealth from the plummeting value of the Venezuelan bolivar currency.
According to blockchain analytics firm Chainalysis, cryptocurrency purchases using bolivars surge whenever the national currency loses value.
Since August 2022, the U.S. dollar has strengthened more than sixfold against the bolivar, driving a shift toward digital currencies.
The government’s new restrictions on online platforms are likely to intensify the challenges faced by Venezuelans, who rely heavily on digital assets to navigate the country’s economic and political instability.
