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El Salvador’s Chivo Wallet Is Filled With Identify Fraud Scams

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El Salvador’s Chivo wallet is filled with identity fraud as the scammers stole IDs to claim wallet sign-up bonuses so let’s read more in our latest cryptocurrency news today.

According to El Mundo, the identity thieves targeted El Salvador’s Chivo wallet that led to further doubts around the BTC Adoption in El Salvador. President Nayib Bukele sold the idea of BTC as a legal tender based on the “banking of the unbanked” and reduced overseas remittance fees. The payments to the family from the people from Salvadorians living and working abroad account for 22% of the GDP of the country. Because of the public backlash and the pressure from the international community, things are heating up. Now with the reports of poor wallet security, maintaining the line is now harder to do.

4 weeks have passed since El Salvador’s BTC experiment went live and things are not going as planned. Not only was the entire process difficult, the public protested but the administration faced international resistance with the World Bank and the International Monetary Fund that is leading the charge. To top all things off, this week it emerged that some people In El Salvadore discovered that scammers enabled the accounts without consent. The wallet registration happens with the Unique Identity Document, date of birth, telephone number, and a photo upload. Social media is now awash with reports of people claiming their DUI has activated already and the BTC bonus was withdrawn:

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“My DUI has also been registered in the Chivo App without my knowledge. Magnificent security standards that the government app manages to transact money.”

The Chivo wallet offered $30 worth of BTC as an incentive for citizens to sign up. Three weeks from going live, President Bukele said that more than 2 million Salvadorians downloaded the wallet and added that the uptake was far bigger than that of the people that are signing up for bank accounts. However, the Chivo Wallet was activated by scammers and they are not looking to steal the bonus or something else?

President Bukele Claims, chivo, wallet, btc
Nayib Bukele, Source: Wikipedia

It’s worth remembering that BTC’s rollout as legal tender in El Salvador in an experiment and while some criticized the speed of this rollout, it was announced in June and launched in September so it is fair to say that this project was being worked on some long time before:

“The president forced out the project out of the oven. You don’t adapt a national currency in just months.”

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Source: https://www.dcforecasts.com/bitcoin-news/el-salvadors-chivo-wallet-is-filled-with-identify-fraud-scams/

Blockchain

MATIC Price Analysis: Weekly and 4 Hr Chart Analyses Reveals Buy Signal for Polygon

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Polygon recently set a new record for highest bounty paid in DeFi. The team at Polygon paid a two million US dollar worth of bounty to Gerhard Wagner, a white hat hacker who discovered a crucial vulnerability that had put around 850 million US dollars’ worth of capital at risk.

So what type of vulnerability could this be? Well, it’s a double-spend bug, a type of bug that could have tuned catastrophic for the Polygon ecosystem.

Bullish/Bearish Scenario

  • The bear-trap candlestick formation on the weekly time frame, alongside the buildup of bullish divergence on the 4HR time frame, shows that the bulls are back in control.
  • A breakdown of the 1.152 support implies a bearish takeover.

Important Weekly Polygon (MATIC) Announcements

  • Immunefi, a bug bounty, and security platform acknowledged that the bounty is the highest that has been paid in decentralized finance [DeFi].
  • Another exciting announcement in the Polygon ecosystem is the PECO-Polygon Ecosystem Index, which makes it possible for participants to bet on the performance of Polygon [MATIC] projects. The PECO Index is a single token that captures the best native projects on @xPolygon.

Without any further delay, Let’s analyze the MATICUSDT price chart.

Polygon (MATIC) Price Analysis:  MATICUSDT Weekly Chart 

Following the path of most top altcoins in the cryptocurrency market, the MATICUSDT triggers a bear-trap candlestick formation while trading within a rising and expanding wedge.

Although the crypto pair still trades below its all-time high, higher RSI readings above level-25 tell us that we are still in an uptrend and we may soon see a surge in demand for the MATIC token.

Polygon (MATIC) Price Analysis:  MATICUSDT Daily Chart 

A recent regular bearish divergence on the daily chart above shows that we may soon see a slowing and possible correction of current gains.

Failure of RSI values to breach below level-25 would suggest a continuation of the current uptrend.

Polygon (MATIC) Price Analysis:  MATICUSDT 4 Hr Chart 

As the RSI prints higher values above level-25 on the daily time frame, the 4HR time frame confirms entry into the uptrend with an exit of the oversold area [level-25] with the recent entry of oversold at press time.

Regular and hidden bullish divergence setups are instrumental for the previous trend reversal and current trend continuation we see on the above intraday chart.

An impending hidden bullish divergence at press time may be sufficient for the bulls to find a price floor above the 1.491 support and restore the MATIC price into new highs.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/polygon-matic-price-analysis-intraday-hidden-bullish-divergence-signals-trend-continuation-for-maticusdt/

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Blockchain

Harmony’s ONE Token Targets $1 After Breaking All-Time High

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/harmonys-one-token-targets-1-after-breaking-all-time-high/?utm_source=main_feed&utm_medium=rss

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Blockchain

NEAR Announces $800M in Development Grants

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/near-announces-800m-in-development-grants/?utm_source=main_feed&utm_medium=rss

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