El Salvador Sees Rise In Identity Theft As Scammers Steal Personal Data To...

[Tubelight]

El Salvador’s bitcoin roll-out has had its up and downs since the country officially made it legal tender on September 7th. In the past month, residents have posted both the good and bad of bitcoin adoption. It has been chiefly favorable as citizens settle into their new standard of having a cryptocurrency as a legal tender, alongside the existing dollar legal tender.

The Chivo wallet, which is the official wallet of the El Salvador government, gives out a $30 sign-up bonus to residents 14 and above to encourage the adoption of crypto. Chivo wallet has had some technical issues following the implementation. But the developers have worked out the kinks as the weeks have passed. Now, a new problem has arisen with the wallet; El Salvadorians are having their identities stolen.

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Identity Theft Skyrockets
The $30 BTC bonus from the Chivo wallet carries a simple condition that residents sign up with their information and confirm it is them. After the verification process is complete, citizens will receive their bitcoin bonus and be on their way. However, scammers began to exploit this at an alarming rate, to the point where citizens have started to cry out. More