Viber disables popular dollar trading group in Maldives

One of the largest Viber groups used for foreign currency exchange in the Maldives has been blocked.

The group, known as Currency Exchange MV, had more than 10,000 members and was widely used for US dollar trading and other foreign exchange transactions.

A notice displayed on the platform states that the group was disabled for alleged violations of Viber public content guidelines.

Social media platforms are commonly used in the Maldives for informal currency trading.

Users in the group regularly posted offers to sell US dollars, quoted exchange rates and invited buyers to make direct contact to complete transactions.

Market observers said the group was often used as a reference point for daily movements in informal dollar exchange rates.

They also noted that transaction volumes discussed in the group suggested substantial daily trading activity.

Viber policies generally allow the closure of groups that breach platform rules, violate national laws or are linked to fraud and scams.

It remains unclear what specific reason led to the closure of the group.

There has been speculation that complaints from users or requests from authorities may have contributed to the decision, although no official confirmation has been issued by Maldives Monetary Authority, Maldives Police Service or Viber.

The closure of the group does not end informal currency trading, as several other social media groups used for foreign exchange transactions remain active.