El Salvadoran Citizen Claims Bitcoin Inexplicably Lost From Chivo Wallet

This article comes fromDecrypt, original author: Scott Chipolina

Odaily Translator |

This article comes from, original author: Scott ChipolinaOdaily Translator |

According to a report in The New Scientist and

Twitter user El Comisonado

Hundreds of Salwa citizens have inexplicably lost their bitcoins from Chivo wallets, according to the report.

New Scientist reports that El Comisonado has counted more than 50 cases of Bitcoin inexplicably disappearing from the wallets of Chivo, a citizen of El Salvador, totaling $96,223.83 in losses.

He told New Scientist, "The government did not respond and did not admit it was wrong."

"It's one of the things people are asking for, which is to have their complaints answered. Many have been waiting months for a response and their money back," he added.

Rogzy said, "I don't think Chivo is secure, and no one can verify it because the code is not open source."

El Comisionado reportedly added that "few people use Chivo today because many don't know how it works."

Of course, this isn’t the first stumbling block El Salvador’s President Nayib Bukele has encountered in his quest to adopt cryptocurrencies.

secondary titleBitcoin Tour in El SalvadorEl Salvadoran President Nayib Bukele broke the news to avid Bitcoin believers at the Bitcoin 2021 Conference in Miami in May, announcing for the first time that El Salvador would accept Bitcoin as legal tender.

Since then, his policies have been mired in controversy. Citizens take to the streets again and again,

Protest against Bukele's draconian Bitcoin laws

. It is reported that the Bitcoin Law has come into effect in early September, and Bitcoin has officially become the legal tender of El Salvador.

Some of the world's largest financial institutions, including the World Bank and the International Monetary Fund, have also criticized Bukele's bitcoin policies.

Bukele is believed to have authoritarian tendencies, and while such tendencies may have pre-dated El Salvador’s bitcoin laws, they have been around since he became a bitcoin believer.