The Inside Story of How El Salvador’s Official Crypto Wallet Crashed and Failed

from Central America in Minutes · host El Faro English

When Nayib Bukele’s signature Chivo Wallet crashed two days after launch, an American developer was brought in to put out the flames. The story he told to a Texas court is one of amateur coding, millions of dollars of taxpayer money, improvised decision-making, and removal of money laundering firewalls when the bitcoin trading software came to a grinding halt after just 150 downloads.

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This episode was published on December 16, 2022.

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