El Salvador’s Citizens Claim That Their Bitcoins Are Mysteriously Disappearing From Their Chivo Wallet.

El Salvador‘s residents are complaining about lost bitcoins months after the country adopted Bitcoin as its official currency. There have been concerns that the Chivo wallet is not secure, which has hampered the digital wallet’s uptake. The administration has generally kept silent in response to reports of lost Bitcoins.

According to a New Scientist study, El Salvador’s citizens are unexpectedly losing Bitcoins in their Chivo wallet. According to the article, El Comisionado has detected over 50 examples of lost BTC since the debut of the government wallet. According to El Comisionado, the administration has turned a blind eye to the increasing streak.

El Comissionado said to the New Scientist:

“The government has not responded, nor does it acknowledge the errors. It is one of the things people are demanding, that they respond to their complaints. Many have waited several months for a response to get the money back,”

Users of the Chivo wallet are concerned about the sluggish pace of government action. The government-issued wallet has been plagued by problems from its inception, which were revealed following the disastrous debut in September.

President Bukele took to Twitter to explain the delay in releasing the wallet, noting that it was necessary to enhance the capacity of the picture capture servers due to the influx of customers.

There have been reports that the $30 BTC reward is not transferrable to other wallets and may pose data privacy concerns. The Chivo app may not have the finest reviews on Google Play, but the government claims that one-third of the population has started using the wallet.

For some, the government’s inaction indicates a firm stance against Bitcoin adoption. Despite objections in some sections of the country and concerns from international organizations, the authorities went ahead and made Bitcoin legal money.

Several key players in the area, including Ethereum co-founder Vitalik Buterin, have condemned the adoption strategy as being antithetical to the principles of blockchain technology. El Salvador’s government made Bitcoin adoption mandatory for companies and promised a discount on gasoline purchases for only users of the Chivo wallet.

Patrick

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