Salvadorians Report Missing Bitcoin From Their Chivo Wallet

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It has been three months since El Salvador approved
 
 Bitcoin 
as a legal tender. Since then, all Bitcoin transactions happen through the Government Official Wallet, popularly known as “Chivo wallet.” At first everything seemed good, but of late there have been concerns about critical issues facing the
 
 digital wallet 
.

Hundreds of Salvadorians have started complaining on social media about their Bitcoin mysteriously disappearing from their Chivo wallet. A Twitter user called «El Comisionado» collected several tweets about the matter on December 18. Users complained that various amounts of Bitcoin worth ranging from $100 to $16,000 have gone missing from their Chovi wallet. The mysterious disappearance of funds happens without users authorizing transactions. El Comisionado’s thread highlighted about 50 tweets that complained about a total of $96,223.83 worth of Bitcoin went missing from users’ digital wallets.

Several tweets collected by El Comisionado include screenshots showing unauthorized transactions from the affected Chivo wallets. A user, who said to have lost $16,000 in Bitcoin, complained about the inability by El Salvador’s government to investigate the missing funds. He threatened to go to the media if the government does not unearth the root cause of the problem.

Tom’s Hardware – an online publication that helps consumers to buy the best hardware and build the best PC – contacted El Salvador’s government officials in charge of the Ministry of Justice and Public Security for comment about the complaints, but have not received a response.

Chivo Wallet Affected Technical Challenges

The development by Salvadorans reporting about their Bitcoin mysteriously disappearing is a huge disappointment facing the Chivo wallet. It is a setback that discourages citizens from using the app promoted by President Nayib Bukele. Problems accessing wallets, verifying data, withdrawing funds from ATMs, and the government not depositing the $30 bonus that Bukele promised all Chivo users are major challenges frequently complained of. Issues about bugs and technical discrepancies in the Chivo wallet have also been reported. All these show that the digital wallet may not be secure, which as a result is affecting its mainstream adoption. In the past, users have also complained about the issue of identity fraud. In October, hundreds of local citizens complained that hackers opened Chivo Wallets using their ID numbers to claim the $30 bitcoin incentive being offered to people who register in the app. With Bitcoin adoption, President Bukele positioned his Central American country at the center of a global innovation about the future of money. But the process is not without challenges and critics.

It has been three months since El Salvador approved
 
 Bitcoin 
as a legal tender. Since then, all Bitcoin transactions happen through the Government Official Wallet, popularly known as “Chivo wallet.” At first everything seemed good, but of late there have been concerns about critical issues facing the
 
 digital wallet 
.

Hundreds of Salvadorians have started complaining on social media about their Bitcoin mysteriously disappearing from their Chivo wallet. A Twitter user called «El Comisionado» collected several tweets about the matter on December 18. Users complained that various amounts of Bitcoin worth ranging from $100 to $16,000 have gone missing from their Chovi wallet. The mysterious disappearance of funds happens without users authorizing transactions. El Comisionado’s thread highlighted about 50 tweets that complained about a total of $96,223.83 worth of Bitcoin went missing from users’ digital wallets.

Several tweets collected by El Comisionado include screenshots showing unauthorized transactions from the affected Chivo wallets. A user, who said to have lost $16,000 in Bitcoin, complained about the inability by El Salvador’s government to investigate the missing funds. He threatened to go to the media if the government does not unearth the root cause of the problem.

Tom’s Hardware – an online publication that helps consumers to buy the best hardware and build the best PC – contacted El Salvador’s government officials in charge of the Ministry of Justice and Public Security for comment about the complaints, but have not received a response.

Chivo Wallet Affected Technical Challenges

The development by Salvadorans reporting about their Bitcoin mysteriously disappearing is a huge disappointment facing the Chivo wallet. It is a setback that discourages citizens from using the app promoted by President Nayib Bukele. Problems accessing wallets, verifying data, withdrawing funds from ATMs, and the government not depositing the $30 bonus that Bukele promised all Chivo users are major challenges frequently complained of. Issues about bugs and technical discrepancies in the Chivo wallet have also been reported. All these show that the digital wallet may not be secure, which as a result is affecting its mainstream adoption. In the past, users have also complained about the issue of identity fraud. In October, hundreds of local citizens complained that hackers opened Chivo Wallets using their ID numbers to claim the $30 bitcoin incentive being offered to people who register in the app. With Bitcoin adoption, President Bukele positioned his Central American country at the center of a global innovation about the future of money. But the process is not without challenges and critics.

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