The exchange was beloved in Venezuela, but it says the sanctions have made operations almost impossible, further constricting the Venezuelan digital currency market.
To protect the bolivar, the government is reportedly going after digital currency users, imposing a 20% tax on BTC transactions to curb its growing usage for payments in the South American country.
After years of experimenting with the controversial Petro digital currency, Venezuela is now set to launch the digital bolivar, the country’s version of a central bank digital currency.
President Nicolas Maduro recently told Venezuelans that his government is working on a digital bolivar, promising a big surprise announcement soon.
The two reportedly used obfuscation protocols to cover their tracks, but police managed to track the heist to a company they are associated with.
The Venezuelan army has begun block reward mining to secure funds, in a bid to stave off the effects of economic collapse in the country.
Any local block reward mining operator must first obtain a license from the government, and be listed on a government register.
The Venezuelan government has continued its internet censorship, with digital currency exchange Coinbase being the latest casualty.
Over 60,000 healthcare workers may miss out on bonus payments after the Venezuela government blocked access to a local digital currency exchange.
The National Tax Harmonization Agreement will implement an information exchange and monitoring system for companies that will allow them to pay taxes in Petro.
The equipment is valued at $79,000, and its operator can face an $18,000 fine over unregistered block reward mining operations.