El Salvador Locals Say That Their BTC Is Vanishing From Their Accounts

El Salvador locals reported that their bitcoin holdings are vanishing from their accounts, but this is only one in the long line of problems that are plaguing the bitcoin image in El Salvador so let’s read further in today’s Bitcoin latest news.

The El Salvador locals are reporting that their bitcoin holdings are vanishing from their accounts from their Chivo wallet. Accoridng to one Twitter user under the pseudonym El Comisionado, we can see that there are more than 50 examples of BTC going missing from Chivo wallets:

“The government has not responded, nor does it acknowledge the errors. It’s 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.”

Zaira Navas as a member of the El Salvador National Civil Police and BTC Commentator Rogzy experienced similar issues:

“I don’t think Chivo is secure and no one can verify it since the code is not open source. Today very few people use Chivo, because many do not know how it works.”

This is not the first BTC problem block encountered by President Nayib Bukele in his quest to embrace crypto. Bukele announced that El Salvador will accept the largest cryptocurrency as a legal tender in May when he broke the news to BTC maximalist crowd during the Miami 2021 BTC conference. Since then, his policy was sparked with multiple controversies and citizens took to the streets time after time to protest Bukele’s Bitcoin law. Some of the biggest financial institutions like the World Bank and the IMF also criticized Bukele’s BTC policy.

It was clearly visible that Bukele has an authoritarian streak and while that could proceed with El Salvador’s BTC law, it featured ever since the president became a BTC supporter. Mario Gomez, an outspoken critic, was arrested without a warrant after he trashed the government’s policy. Two other business people spoke after Gomez was arrested:

“The police doesn’t have to take anyone to court. They just scare one of the vocal dissidents with kidnapping him a couple of hours or a couple of days. It crushes my soul to see Bitcoin maximalists around the world cheering this when, if they actually sat down and read the law and regulations, it is completely opposite to everything they preach.”