Venezuelan Government Arrests Instagram Moderators Over FX Rate Posts
- At least 20 moderators of the Instagram page “Monitor Dólar” were arrested, accused of terrorism, money laundering, and fraud.
- The arrests began in night-time raids on May 29.
- Security agents seized phones and laptops from the account’s operators, who managed 1.3 million followers.
- The official exchange rate is currently 38% below the freely quoted dollar rate.
- Venezuelans moved approximately $20 billion through crypto rails in a year, with a significant rise in stablecoin transactions.
The Venezuelan government has arrested over 20 individuals linked to the Instagram page “Monitor Dólar” for posting parallel exchange rates. This move coincides with increased inspections to enforce official pricing and a growing reliance on stablecoins among citizens.
Source (2.6.1)https://cryptoslate.com/venezuelans-turn-to-stablecoins-as-government-arrests-instagram-fx-rate-account-mods/?rand=24433
