Technology

Bitcoin missing from El Salvador’s government-run cryptocurrency app

Over $96,000 have disappeared from user’s wallets

By Katarina Hall

December 28, 2021 3:13am

Updated: December 28, 2021 9:57am

Months after El Salvador launched its cryptocurrency wallet Chivo, Salvadorans are complaining that large amounts of Bitcoin have disappeared from their wallets.

When El Salvador made Bitcoin a legal tender, the government introduced their official Bitcoin wallet, Chivo. The wallet was made to access to the $30 worth of bitcoin given to all Salvadorans by President Nayib Bukele in June.

Chivo was supposed to help Salvadorans adopt the cryptocurrency. However, people have reported funds missing from their wallets.

A thread on Twitter recorded multiple complaints by users who have lost their bitcoin through unauthorized transactions in their Chivo wallet. The thread includes screenshots of Tweets and Facebook posts.

People have lost anywhere from $100 to $16,000 BTC. The creator of the thread, El Comisionado, documented over 50 cases of bitcoin theft from Chivo wallet. These cases alone represent $96,223.83 that were stolen from the app.

Después de documentar 50 casos de estafa de la @chivowallet el monto es de $96,223.83

Solamente en estos casos.
— El Comisionado (@_elcomisionado_) December 20, 2021

El Salvador’s government has not been helpful in assisting those who lost their Bitcoin. Many users have complained about the government's lack of responsibility and initiative in retrieving the stolen funds.

“Are you going to do something or not, what kind of support do you have? $16,000 were taken from your system without authorization, it’s too much, I will have to talk to a radio or television program to publish this if I don’t get an answer,” said one user.

“I’m about to have a heart attack, there were 13 transactions made in mi Chivo totaling $3,921!!!!!! I’m about to cry from anger. I only use this app to send help, which as Salvadorans we send to help,” said another user.