El Salvador faces problems with its state-owned cryptocurrency wallet after bitcoin’s fall

After the cryptocurrency market crashed, a number of users of the Salvadoran state-owned wallet Chivo were faced with the inability to withdraw their funds.

«Chivo is completely unreliable. Every day we hear more and more stories about fraud and theft from the public wallet. My account was hacked about a month ago and now I can’t even log in to check if my funds are still there,» said Andres Pineda, an employee of Banco Cuscatlan.

Other users complain about the Chivo wallet on Twitter. For example, one user tried to transfer bitcoins to the Binance exchange but was unable to do so.