- Binance users in Venezuela face access issues due to a government-imposed DNS block amid escalating censorship of social platforms.
- Venezuelan President Nicolás Maduro’s ban on social media extends to Binance, affecting crypto users after similar restrictions on major platforms like X and Facebook.
- Local anti-censorship group VE sin Filtro reports on the latest government-imposed access block affecting Binance amid ongoing political unrest in Venezuela.
Binance users in Venezuela are unable to access the platform due to a DNS block. This follows President Nicolás Maduro’s ban on social media platform X amid differences over the results of the presidential election. Before that, restrictions were placed on several leading social platforms such as Mercado Libre, Signal, Reddit, Facebook, and X [formerly Twitter], which have a large user base.
First reported by the local anti-censorship group called VE sin Filtro which stated that the move is part of a larger series of internet restrictions spearheaded by the National Commission of Telecom in the nation. This is allegedly linked to the online spat between President Maduro and X owner Elon Musk prompting the former to impose a 10-day block on access to X in Venezuela. Maduro accused Musk of using the social network to promote hatred after the country’s disputed presidential election.
Both Maduro and Musk have exchanged barbs over Venezuela’s disputed presidential election on 28 July. Musk accused the self-proclaimed socialist leader of a “great electoral fraud”. “Shame on the dictator Maduro,” Musk said in a recent post.
Binance Responds
That said, the country’s dire economic situation has forced citizens to turn to social media for expression and explore alternative financial avenues for survival. Amidst rampant hyperinflation and economic instability, digital assets have emerged as a potential lifeline offering a means to preserve asset value. While the recent 10-day ban on cryptocurrency transactions is unprecedented, its ultimate impact remains uncertain. Whether this restriction will be lifted or extended, it has undoubtedly highlighted the complex interplay between technology, finance, and government regulation in a crisis-stricken nation.
In the meantime, Binance assured users that their funds are safe and the platform is closely monitoring the situation.
Dear Binancians, Like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions. We want to assure you that your funds are SAFU under our robust security protocols. We understand the inconvenience and concern this situation may cause. We are monitoring the situation closely to address it in the best and quickest way possible. Sincerely, The Binance Team
