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Cryptocurrency News Articles
El Salvador's Chivo Wallet Breach: Bitcoin ATM Source Code Leaked by Black-Hat Hackers - Coinpedia Fintech News
Apr 24, 2024 at 07:16 pm
The recent acquisition of Chivo Wallet source code by cyberthieves has compromised Bitcoin ATMs in El Salvador, raising concerns over data security. Hacker group CiberInteligenciaSV released code snippets and VPN credentials, exposing vulnerabilities in the government-backed virtual currency. This leak follows a previous hack where personal data of millions of Salvadorans was compromised, highlighting ongoing challenges in integrating cryptocurrencies into traditional financial systems.
Cyberthieves Exploit Chivo Wallet Source Code, Exposing Vulnerabilities in El Salvador's Bitcoin ATMs
San Salvador, El Salvador - A recent breach has revealed that cybercriminals have obtained portions of the Chivo Wallet source code, posing significant security risks to Bitcoin ATMs in El Salvador. The incident, orchestrated by the hacker group CiberInteligenciaSV, has cast a shadow over the government-backed virtual currency, prompting concerns about data security and the reliability of cryptocurrency systems.
Source Code Leakage Compromises ATM Security
The leaked source code, published on the notorious black hat forum Breach Forums, includes snippets from the Chivo wallet and VPN credentials utilized in Bitcoin transactions via ATMs. This sensitive information provides cybercriminals with a roadmap to exploit vulnerabilities and potentially compromise the integrity of Bitcoin ATMs, threatening the safety of users' funds and personal data.
CiberInteligenciaSV's Motivations
CiberInteligenciaSV, the group responsible for the breach, has released the stolen information free of charge, citing the government's ownership of the Chivo Wallet as justification. The group's actions are perceived as an act of rebellion against the El Salvadoran government, which has aggressively promoted the adoption of Bitcoin as legal tender.
Chivo Wallet Faces Ongoing Challenges
The source code leak is the latest in a series of setbacks for the Chivo Wallet, which has faced numerous challenges since its inception. Launched as the official digital wallet for Bitcoin storage in El Salvador, the Chivo Wallet has encountered technical glitches, security vulnerabilities, and public backlash.
Mounting Consumer Complaints and Security Breaches
Despite its official backing, the Chivo Wallet has been plagued by complaints from users, who have reported slow operation, app crashes, and susceptibility to exploits. The recent source code leak adds to these concerns, raising doubts about the wallet's ability to safeguard sensitive information and protect users' assets.
Chivo Wallet Victims' Data Exposed in Prior Hack
Earlier this month, CiberInteligenciaSV also leaked a vast trove of personal data belonging to millions of Salvadorans from the Chivo Wallet database. This data breach exposed sensitive information, including full names, unique identity numbers, birth dates, residential addresses, phone numbers, emails, and photographs. The leak highlighted the vulnerability of cryptocurrency systems and the risks associated with integrating them into traditional financial systems.
Government Response and Next Steps
The El Salvadoran authorities have yet to issue an official response to the Chivo Wallet breach, leaving unanswered questions about the extent of the damage and the measures they will take to address the security concerns. As cyber threats continue to evolve, the incident serves as a stark reminder of the challenges and risks associated with managing cryptocurrencies, especially in the face of emerging complexities.
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