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In a recent news that has unsettled the crypto community in El Salvador, the Chivo Wallet—a key component of the country’s pioneering crypto program—has encountered a serious security breach. This incident involves the unauthorized disclosure of source code snippets and VPN access details by the cybercriminal group CiberInteligenciaSV. The leak was disclosed on an online hacking forum on Tuesday, representing a severe threat to the integrity of El Salvador’s official bitcoin wallet.
The cybercriminals involved in this breach had previously made headlines by releasing personal information belonging to approximately 5.1 million Salvadorans. This earlier attack appears to be a punitive action against the Salvadoran government, which has refused to engage in discussions with the hackers. The motives behind the cybercriminals’ desire to converse with government officials remain shrouded in mystery.
El Salvador’s Bitcoin Wallet Compromised: Cybercriminals Target National Crypto Program
CiberInteligenciaSV’s recent post revealed the nature of the leaked information, as the group declared on Tuesday:
This time I am bringing you the code that is inside the Bitcoin Chivo Wallet ATMs in El Salvador, remember that it is a government wallet, and as you know, we do not sell, we publish everything for free for you. This gesture underscores the hackers’ ongoing challenge to the Salvadoran government’s initiatives.
El Salvador’s foray into the cryptocurrency space began in 2021 when it became the first country to adopt bitcoin as legal tender. This bold move was aimed at mitigating the adverse economic effects of the local currency’s declining value. By introducing the Chivo Wallet, the government sought to facilitate the buying, selling, and storage of bitcoin among its citizens, enhancing their financial autonomy.
El Salvador’s Chivo Wallet Responded to the Incident
The recent breaches signify ongoing vulnerabilities in the national crypto program, particularly as the value of certain cryptocurrencies reaches a two-year high. However, on April 24, 2024 Chivo Wallet has issued a statement addressing recent concerns about a security breach on X. The company emphasizes that the user data remains secure and that no breach has occurred within their system. They specify that the only information leaked was related to a single ATM incident in San Miguel and it involved no personal user details or confidential wallet data. The incident mentioned dates back to March 21, 2023, but Chivo assures that their system’s integrity remains intact as of April 23, 2024.
COMUNICADO DE PRENSA
Los datos de nuestros usuarios están protegidos y en ningún momento se ha violado la seguridad de CHIVO.
PRESS RELEASE
Our users’ data is protected and CHIVO security has not been breached. pic.twitter.com/uGq3FhJ6ld
— chivo (@chivowallet) April 24, 2024
The recent breaches of El Salvador’s Chivo Wallet highlight significant cybersecurity risks that need to be addressed to safeguard the nation’s pioneering crypto initiative. As El Salvador continues to trailblaze in the cryptocurrency arena by integrating bitcoin into its economic framework, other countries are watching closely what they are doing. The resolution of these security issues is crucial for maintaining the trust of Salvadorans and of other countries in the viability of adopting digital currencies at a national level. As things progress, the effectiveness of the government’s response to these cyber threats will be essential in shaping the future of digital finance in El Salvador and around the world.
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