Venezuela Blocks Access to Binance and X Amidst Post-Election Conflict

The Venezuelan government has restricted access to crypto exchange Binance, social media platform X and other online services in the country, raising concerns within the local crypto community. 

These measures were implemented amidst the ongoing controversy around the recent presidential election. 

Venezuela Cracks Down on Binance 

On 9th August, local organization VE sin Filtro revealed that a DNS block was detected on Binance, which disrupted the functionality of its website and mobile app. 

The exchange also confirmed that it is encountering difficulties in providing access to its web platform for users in Venezuela.

“Like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions,” Binance’s Latin American-focused X account said. 

Despite the unsettling situation, the crypto exchange with its significant user base in the country for its P2P service has reassured them that their funds are safe. Furthermore, the platform is working diligently to resolve the issue. 

Following the access restrictions, users in the country are turning to virtual provider networks (VPNs) to bypass the government’s blockades. 

Political Tensions in Venezuela

These restrictions on online platforms came at a time when there were widespread protests triggered by the disputed results of the 28 July presidential election. Venezuelan President Nicolás Maduro and his opponent Edmundo González, have both claimed victory.

However, the country’s government-controlled electoral authority declared Maduro the winner with just over 51% of the vote without releasing a detailed vote count which has sparked controversies. 

Furthermore, the United States, the European Union, the United Kingdom and multiple South American countries have not recognized Maduro’s claim to the presidency, and many have asked for detailed vote counts.

Meanwhile, the recent developments follow the recent ban of X (Twitter) in the country for ten days due to a public spat between President Maduro and X owner Elon Musk.

Following a disputed presidential election last month, Musk labelled Maduro a “dictator” and a “clown,” while Maduro accused him of inciting “hatred, fascism, and civil war.” Both have even offered and accepted challenges to fight each other.