Reshab AgarwalScammers are exploiting the Chivo wallet bonus using fraudulent identities. The app is being filled with accounts made through stolen names and ids which is allowing them to claim the sign-up bonus. This is a really bad thing because this was done by the El Salvador government to incentivize the adoption of Bitcoin. The fact that most El Salvadorians don’t have access to banks means that Bitcoin is their only way to transact online.
Identity theft in Chivo wallet
Users are reporting that their identity has already been used to make an account on Chivo wallet even though they haven’t registered. To make an account the identification requires a Unique Identity Document and a few other information that is being stolen by scammers. This is a loss for the government as they are losing $30 to scammers which in large quantities become a huge amount of money. Secondly, people whose identity is being stolen are reporting the problems and they are unable to take advantage of the $30 bonus.
At the same time, it is another negative press regarding the BTC adoption in El Salvador. They are already facing so many protests from the masses that this news won’t take time to add up. The fact that people are losing their identity to scammers because of Bitcoin will be a big deal for the government. It is important for Nayib Bukele to address the situation and make sure that the identity theft stops.
What did people have to say about it?
People are criticizing the government as scammers are exploiting the Chivo wallet bonus. They say that the adoption has been done blindly and things were not thought through. The wallet was also not refined properly and the entire process has been rushed. A person also duly pointed out that there are bigger problems in the country and adoption of crypto and Bitcoin will not solve that. The government should think of those things first. All in all, this is yet another barrier to the adoption of Bitcoin in El Salvador.
What are your thoughts on Scammers exploiting the Chivo wallet bonus? And do you think if the government took a little more time and thought this through, this problem could have been prevented? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.
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