Some Salvadorans claim funds are missing from their Chivo wallets

Some
of
the
money
from
El
Salvador’s
state-issued
Chivo
wallets
is
reportedly
missing,
according
to
many
Salvadorans
posting
on
social
media.

In
a
Dec.
16
Twitter
thread
started
by
user
“the
commissioner,”
at
least
50
Salvadorans
have
reported
December
losses
totaling
more
than
$96,000,
following
the
setup
of
the
Bitcoin
(BTC)
wallets
by
the
government.
Some
of
these
transactions
were
for
as
little
as
$61,
but
others
said
they
were
missing
thousands
or
more.

“There
is
a
security
flow
on
the
wallet
where
money
and
transactions
disappeared,”

said

Luis
Guardado
in
a
direct
appeal
to
President
Nayib
Bukele.
“No
tech
support
and
only
useless
calls,
where
is
my
money.”

Bukele

said

in
October
that
3
million
Salvadorans
were
using
their
Chivo
wallets,
roughly
half
of
the
nation’s
6.5
million
people.
Since
El
Salvador’s
Bitcoin
Law
was
first
proposed
in
June,
many
in
the
country
have
opposed
the
measure
for
a
variety
of
reasons,
including
the
volatility
of
cryptocurrencies
and
claims
that
they
were
an
unreliable
investment
for
pension
funds.
Protestors
marched
through
the
capital
city
of
San
Salvador
before
the
law
went
into
effect
on
Sept.
7,
with
subsequent
protests
seeing
some
people

managing
to
ransack
and
burn

Chivo
kiosks.



Related:




President
Bukele
fires
back
at
critics
on
‘Bitcoin
experiment’

El
Salvador’s
president
has
frequently
taken
to
social
media
to
promote
the
adoption
of
BTC
as
well
as
related
projects,
including
using
geothermal
energy
from
the
country’s
volcanoes
to
mine
crypto
and

building
a
Bitcoin
City
initially

funded
by
$1
billion
in
BTC
bonds.
He
also
uses
the
platform
to

announce
his
Bitcoin
purchases

to
the
world.
At
the
time
of
publication,
the
country’s
treasury
holds
1,391
BTC

roughly
$71
million
with
the
price
of
the

crypto
asset
hovering
near
$50,000

for
the
holidays.

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