Major Viber Group Used for Dollar Exchange in Maldives Blocked

‘Currency Exchange MV’, one of the Maldives’ largest Viber groups dedicated to US dollar exchange and foreign currency transactions, has been blocked by the platform.

The group, which had more than 10,000 members, was removed for violating Viber’s public content guidelines, according to a notice shown within the application.

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The community had become a widely used platform for monitoring daily black market US dollar exchange rates in the Maldives. Users regularly posted the amount of dollars available for sale and their asking prices, while prospective buyers responded with offers. Activity within the group suggested that transactions involving hundreds of thousands of dollars were taking place daily.

Viber generally removes community groups found to be involved in activities that violate national laws or facilitate fraudulent practices. Reports of individuals suffering significant financial losses through informal currency exchange transactions have circulated in recent years, raising the possibility that complaints were submitted to authorities.

The action may also have followed requests from the Maldives Monetary Authority (MMA) or the Maldives Police Service, although neither institution has issued an official statement regarding the closure.

Informal foreign currency trading through social media platforms remains more widespread in the Maldives than transactions conducted through formal channels. ‘Currency Exchange MV’ had become one of the primary hubs for black market dollar trading in the country.

Despite the closure of the group, similar activities continue on other platforms and within other online communities dedicated to foreign currency exchange. As these networks operate outside formal regulatory systems, concerns remain over their impact on the country’s financial system and the risks faced by participants.