President Bukele fails to tackle issues of missing Bitcoin


TL; DR Breakdown

  • Bukele has failed to tackle the issues of missing Bitcoin from wallets in El Salvador
  • More holders are experiencing the issues
  • Bukele holds onto his Bitcoin stance despite obstacles

Citizens of El Salvador have been losing some of the Bitcoin sent to their wallets in the last few days. This news was first related to the media by El Comisionado, a Twitter user from the country. Asides from the Twitter user, The New Scientist, an official source, has also corroborated the story of the missing digital assets from Salvadorians Chivo wallets.

More holders are experiencing the issues

In the statement from The New Scientist, the Twitter user has collated 50 different wallets that have been involved in this. Another report by a news station said it had sent words to the Bukele led government over the missing Bitcoin but has not received a reply or any official word from them. The station’s spokesperson noted that citizens of El Salvador are worried, and they need President Bukele’s comments on these issues immediately.

The spokesperson said that some citizens had these issues for six months while others witnessed it recently. The spokesperson also said that the issues were not resolved, not affecting citizens as government workers are also showing displeasure at the turn of events. According to an analyst in the country, Rogzy, who has been involved in the issue, mentioned that he feels the Chivo wallet has a lot of loopholes. Rogzy said he feels this because the wallet was not designed to be open-sourced, and no one can verify its code to ascertain its level of security.

Bukele holds onto his Bitcoin stance despite issues

This recent update is another obstacle in a long list of issues that have troubled El Salvador and its president Nayib Bukele in his quest to embrace the leading digital asset. El Salvador became one of the few countries in the world to adopt Bitcoin as a legal tender following an announcement back in May. Since that period, some citizens have opposed the law, while others have publicly displayed their displeasure on the streets.

Asides from citizens, some key organizations worldwide have issued warnings to the president over his decree back in May. Bukele has been authoritarian, but it has become glaring since adopting the leading digital asset. An example was the arrest of Mario Gomez, one of the most influential critics in the country, for his words condemning the president’s moves. Many people have continued to fear for their lives and have decided to cower in fear of facing the wrath of the president of El Salvador.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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