Categories: Market

The process of setting up a Chivo Bitcoin wallet was hacked by hackers

According to the latest news, Salvador has surfaced hundreds of people claiming that the Chivo Bitcoin wallet setup process was hacked by hackers when their IDs were used to open their wallets.


The process of setting up a Chivo Bitcoin wallet was hacked by hackers

 

The process of setting up a Chivo Bitcoin wallet was hacked by hackers

As part of a government effort led by Nayib Bukele to facilitate Bitcoin adoption in the country, a $ 30 bounty was placed on each newly opened wallet. But now the whole process is reportedly completely compromised.

Since the launch of the Chivo Bitcoin wallet on September 7th, many Salvadorans have complained that they cannot activate the wallet because their DUI number was used without their consent.

According to Cristosal, a human rights organization in El Salvador, complaints have already been received on the issue. In just six days (October 9-14), Cristosal received no fewer than 755 notifications from Salvadorans who, in one way or another, had their identities stolen using their Chivo wallet.

Hackers open some Chivo Bitcoin wallets with Salvadoran IDs

So far, the El Salvador government has not commented on the identity theft allegations related to wallets.

 

Chivo Bitcoin Wallet was easily hacked by hackers due to a faulty registration system

Recall that Bukele came up with a report at the end of September claiming that more than 2 million people have officially downloaded the Chivo wallet.

While the official website of Chivo states that in order to open an account one must first scan the DUI before and after and then do some kind of facial recognition that helps to verify the registrant’s identity. But some Salvadorans say the system is flawed and not nearly as protective as it claims.

Adam Flores, a Salvadoran YouTuber who runs the La Gatada SV channel, revealed the system’s flaws in a personal test he ran on his grandmother’s data. Although Flores used her copy of the DUI, the application was accepted.

He didn’t stop there. During the face recognition phase, the YouTuber just took a disjointed photo of a Sarah Connor poster on his wall. Interestingly, the process was successful.

Many other similar cases have also been shared on social networks, many of which have shown how easy it is to fool the tests.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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