Venezuela Launched Legal Action against US Currency WebsiteAdded: Wednesday, October 28th, 2015
Category: Recent Headlines Involving File Sharing > Ridiculous Criminal Trials
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, www.extratorrent.cc, 2015
The central bank of Venezuela has filed suit in the United States against a portal that is widely used to track the plummeting black market value of its currency. Venezuela submitted an unusual complaint, which includes images, high-flown language and even links to journalists’ personal websites, against operators of the site DolarToday, accusing them of committing cyberterrorism and sowing economic chaos. The central bank of Venezuela seeks to shut down DolarToday and claims monetary damages.
The complaint is launched against shadowy figures, allegedly Venezuelan exiles living in the US, and is adorned with screenshots, historical pictures and stock images of cash. It is known that Venezuela tightly controls the legal exchange of its currency, the bolivar. The country uses a byzantine 3-tier system aimed at subsidizing key imports with advantageous exchange rates. However, many people use the black market, where the value of the local currency is lower.
The website in question tracks currency trades along the Colombian border and has recently become a popular tool to check the value of the black market. DolarToday is usually banned in Venezuela, but many people can use the mobile app to look up the black market rate throughout the day. Aside from sending out alerts when the rate plummets to new lows, DolarToday also provides a steady stream of negative news out of Venezuela.
In the lawsuit, the government of Venezuela says that DolarToday is publishing fake rates, intentionally driving the value of the bolivar down. In the meantime, economists believe that the country is currently suffering from the world’s highest inflation. Indeed, the local currency has lost about 90% of its value on the black market during the past year.
Wednesday, October 28th, 2015
|Desperate Governments do what Desperate s do, poor Venezuela caught up in the paper wars Good luck in the law suit, it wont happen.||
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