Venezuela Blocks Binance and X Amid Presidential Election Dispute

The Venezuelan government has restricted access to several online platforms, including the cryptocurrency exchange Binance and the social media platform X. These measures have been implemented amidst ongoing unrest and controversy surrounding the recent presidential election.

Crypto Services Blocked

On 9 August, local organisation VE sin Filtro reported that a DNS block was detected on Binance, disrupting the functionality of its website and mobile app. Binance, which has a significant user base in Venezuela, particularly for its peer-to-peer service, reassured users that their funds remain secure and that it is monitoring the situation closely.

Social Media Platforms Targeted

This action follows a directive from President Nicolas Maduro, who announced that the telecommunications regulator Conatel would ban access to X for ten days. This move came after a public spat between Maduro and Elon Musk, the owner of X, with both parties exchanging challenges.

Election Dispute

The restrictions on online platforms coincide with widespread protests triggered by the disputed results of the 28 July presidential election. Both Maduro and his opponent, Edmundo González, have claimed victory. However, the government-controlled electoral authority declared Maduro the winner, sparking further controversy as detailed vote counts were not released. González has alleged that his party’s records show he won with nearly 70% of the vote.

International Response

The election results have not been recognised by several international entities, including the United States, the European Union, and various South American nations. These countries have called for a transparent and detailed vote count to resolve the dispute.