The Venezuelan government has arrested 25 individuals for operating unauthorized websites that manipulated the parallel dollar, intensifying efforts to protect the bolívar and combat economic sabotage. Learn how this crackdown aims to restore stability amid ongoing currency wars.

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On June 2, 2025, Venezuela’s Minister of the Interior, Justice, and Peace, Diosdado Cabello, announced the arrest of 25 people allegedly involved in manipulating the parallel dollar exchange rate.

This operation, led by state security agencies, marks a new chapter in the government’s ongoing campaign to defend the national economy from destabilizing forces and reaffirm the authority of the Central Bank of Venezuela (BCV) over currency policy.

The Venezuelan government’s action comes after a thorough investigation into 18 websites accused of daily publishing unauthorized dollar rates, which authorities say fueled inflation and economic instability.

The arrested individuals,10 women and 15 men,were apprehended across nine states, including Caracas, Aragua, Mérida, Lara, Yaracuy, Miranda, Zulia, La Guaira, and Barinas. According to technical analysis, these platforms set exchange rates lacking any official basis, contributing to artificial price hikes and public discontent.

Minister Cabello emphasized that the operation was conducted “silently, without abuse of any kind,” and highlighted the diverse roles within the dismantled network, from operators and managers to programmers and payment recipients. During the raids, authorities seized checks issued by Google, revealing that the websites profited from advertising revenue generated by manipulating economic information.

En una gran operación conducida por el Ministerio de Interior y Justicia y personalmente el presidente Nicolás Maduro, que lleva casi un año de investigación, van 25 personas detenidas por manipular a través de redes sociales el dólar paralelo.

Acá algunas de las personas que… pic.twitter.com/X0qi12IBwG

— Madelein Garcia (@madeleintlSUR) May 31, 2025

The text reads: In a major operation led by the Ministry of Interior and Justice and personally overseen by President Nicolás Maduro, which has involved nearly a year of investigation, 25 people have been arrested for manipulating the parallel dollar rate through social media.
Here are some of the individuals who managed at least 18 social media accounts that illegally set the currency’s price and were capable of raising it by up to 40 points within hours or days without any economic logic.
This network operated in nine states, mainly in Guatire – Miranda, Caracas, Barinas, and Zulia.

Protecting the Bolívar and Combating Speculation

The Venezuelan government has long maintained currency controls to shield the bolívar from speculative attacks and ensure that foreign reserves are used for essential imports such as food and medicine.

The proliferation of parallel dollar indicators,especially on social media and digital platforms,has been identified as a central driver of inflation and price speculation. By artificially inflating the dollar, these networks undermine the government’s efforts to stabilize the economy and protect the purchasing power of ordinary Venezuelans.

Officials have repeatedly framed the battle against the parallel dollar as a defense of economic sovereignty in the face of external aggression and internal sabotage. Cabello pointed out that some website administrators received politically motivated instructions, particularly in the lead-up to the May 25 elections, when the parallel dollar rate spiked by 20%. This, authorities argue, is part of a broader economic war waged by powerful groups seeking to destabilize the country.

The crackdown on parallel dollar networks is not an isolated measure but part of a comprehensive strategy to restore order to Venezuela’s currency market. Regulatory and security agencies have intensified inspections of businesses and digital platforms, imposing stiff penalties on those found using unofficial rates.

The state’s actions reflect a determination to reclaim control over monetary policy, even as international sanctions and limited access to foreign reserves complicate the economic landscape.

#ÚltimoMinuto| El Dorado, era uno de los indicadores usados por las plataformas digitales que marcaban el dólar paralelo.

Su cofundador, el venezolano Guillermo Goncalves, rompió el silencio tras las investigaciones y detenciones.

Escuchen. pic.twitter.com/xJJOHZB57y

— Madelein Garcia (@madeleintlSUR) June 1, 2025

The text reads: #BreakingNews | El Dorado was one of the indicators used by digital platforms to set the parallel dollar rate.
Its co-founder, Venezuelan Guillermo Goncalves, broke his silence after the investigations and arrests.
Listen.

Despite these challenges, the government remains resolute. As President Nicolás Maduro and his cabinet have repeatedly stated, Venezuela will not allow economic mafias and external actors to dictate the fate of the nation.

The recent arrests send a clear message: the defense of the bolívar and the well-being of the Venezuelan people remain at the forefront of state policy.“We can’t be afraid of the mafias. We want to see the currency speculators put in prison”, President Nicolás Maduro has said.

The Venezuelan government’s decisive action against parallel dollar manipulation underscores its commitment to economic justice and sovereignty, even as it faces persistent external and internal pressures.

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