By Nermeen Nabil TLDR
Venezuela has blocked access to Binance, social media platform X (formerly Twitter), and other online services amid unrest over disputed presidential election results.
The block on Binance affects the normal operation of its website and mobile application in Venezuela.
Binance has assured users that their funds are safe and that they are monitoring the situation closely.
The blockade comes after a disputed July 28 presidential election where both Nicolás Maduro and rival Edmundo González claimed victory.
Binance’s peer-to-peer service is popular in Venezuela as locals seek to exchange the highly inflated Venezuelan bolívar for more stable currencies.
The Venezuelan government has blocked access to Binance, the world’s largest cryptocurrency exchange, along with social media platform X (formerly Twitter) and other online services.
This action comes in the wake of widespread unrest following disputed presidential election results.
On August 9, local anti-censorship organization VE sin Filtro reported detecting a DNS block on Binance, affecting both its website and mobile application in Venezuela. The block extends beyond Binance, encompassing various other online platforms, including social media sites and e-commerce platforms like MercadoLibre.
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
Binance confirmed the access restrictions in a statement on August 10, acknowledging that “several websites of companies from different segments in Venezuela, including social networks” were facing similar issues.
The exchange moved quickly to reassure its users, stating, “We want to inform you that your funds are secure (SAFU) under our security protocols.” Binance also emphasized that they are “monitoring the situation closely to address it in the best and quickest way possible.”
The timing of this digital crackdown is significant, coming on the heels of a contentious presidential election held on July 28. Both incumbent President Nicolás Maduro and opposition candidate Edmundo González have claimed victory, leading to widespread protests and international scrutiny.
Maduro, who was announced as the winner by the government-controlled electoral authority with just over 51% of the vote, has faced challenges from González, who claims to have won nearly 70% based on voting machine printouts collected by his party.
The lack of a detailed vote count has fueled skepticism, with several countries, including the United States, the European Union, the United Kingdom, and multiple South American nations, refusing to recognize Maduro’s claim to the presidency.
In response to the growing unrest, President Maduro has taken drastic measures. On August 8, he ordered the telecommunications regulator Conatel to ban access to X in the country for 10 days, citing concerns about the platform’s role in inciting violence. The government’s actions have extended beyond social media, affecting various online services crucial to many Venezuelans’ daily lives.
The block on Binance is particularly significant given the exchange’s importance in Venezuela’s unofficial economy.
Binance’s peer-to-peer service, which allows users to directly exchange cash for cryptocurrency, has become a vital lifeline for many Venezuelans seeking to protect their wealth from the country’s hyperinflation. The bolivar, Venezuela’s local currency, has undergone severe devaluation, driving citizens to seek more stable alternatives like stablecoins and Bitcoin.
VE sin Filtro has recommended that Venezuelans use virtual private networks (VPNs) to circumvent the blocks.
Similarly, the encrypted messaging app Signal, which was also affected by the government’s actions, remains functional for users who enable its “censorship circumvention” setting.
¿Cómo puedo evitar este bloqueo?
Revisa nuestras recomendaciones en este hilohttps://t.co/OaCE1UpazW
¿Qué es un bloqueo DNS?
Nuestros celulares y computadoras necesitan conocer la dirección IP de un servidor en internet para poder comunicarse con él, no sólo el nombre…
— VE sin Filtro (@vesinfiltro) August 10, 2024
The international community has expressed concern over the situation in Venezuela. The disputed election results and subsequent crackdown on digital platforms have raised questions about the state of democracy and freedom of information in the country.
The post Digital Blackout: Venezuela Blocks Binance and X Amid Post-Election Turmoil appeared first on Blockonomi.
Nermeen Nabil Khear