Venezuela Busts 'Los Binanceros' for Alleged Binance-Powered Currency Arbitrage

Venezuela's Bolivarian National Police have arrested three members of the 'Los Binanceros' gang, who allegedly operated a currency arbitrage scheme on Binance's peer-to-peer platform.

The suspects, identified as Adrián Jesús Gómez, José Ángel Hernández, and Guillermo José Roldán, reportedly acquired US dollars through official channels, including Central Bank of Venezuela auctions and regulated exchange desks.

They then converted those dollars into USDT within Binance's platform and resold the digital currency at the unofficial parallel market rate, which trades significantly higher than the BCV's official rate.

The authorities seized phones, a laptop, and a motorcycle during the arrest, and all three suspects have been turned over to Venezuela's Public Prosecutor's Office for further investigation.