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Chivo Wallet Disabled as People in El Salvador Rush to Use Bitcoin

Newsweek logo Newsweek 9/7/2021 Anders Anglesey
A stock photo of the bitcoin symbol. An Ohio man who operated a cryptocurrency laundering service has pleaded guilty to money laundering conspiracy charges in federal court. © Getty Images A stock photo of the bitcoin symbol. An Ohio man who operated a cryptocurrency laundering service has pleaded guilty to money laundering conspiracy charges in federal court.

El Salvador has disabled its Bitcoin transaction app "Chivo," just hours after the country became the first in the world to approve the cryptocurrency as legal tender.

The Bitcoin wallet app Chivo was disconnected in order to "increase the capacity" of its servers, with Salvadorians racing to use the app for the first time on Tuesday.

El Salvador President Nayib Bukele announced servers would be down until the issue with capacity had been properly corrected.

In a tweet translated into English via Google, Bukele said: "For a few moments it won't work @chivowallet, we have disconnected it while increasing the capacity of the image capture servers.

"The installation problems that some people had were for that reason. We prefer to correct it before reconnecting it."


Video: El Salvador Readies for Bitcoin Rollout (Bloomberg)

Disruption to the Chivo wallet service came just hours after El Salvador became the first country to approve the use of Bitcoin as legal tender.

This is an ongoing story and will be updated accordingly.

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