45 sats \ 1 reply \ @rtr 23 Apr
They should've just open sourced the entire thing from the very start.
Interested in what they will do. You think they will give up and move to another exchange?
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There were privacy concerns since the implementation of the Chivo wallet. This was something that was bound to happen sooner or later. From my perspective, it's good that it happened early on, so that future damage can be mitigated.
But yes, they will probably need to explore alternatives, if they haven't already...
News regarding privacy concerns from the past:
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That's a one way to open source...
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Sad. This was bound to happen eventually. They should have started from open-source principles in the first place. I wonder what percentage of the population still uses Chivo, and what percentage moved to a non-custodial solution.
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When Bukele war on hackers
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Nayib Bukele's stroke of political genius was to realise the potential in how the Salvadoran presidential election calendar coincided with Bitcoin's halving cycle.
I don't doubt his understanding of his electorate and that he viewed Chivo, or something like it, as necessary to roll out his plan. He will have known for years now that it was fragile and poorly built, even if it has improved over time. It has caused serious reputational damage - I wouldn't expect another nation state to imitate him on that front, but it's worth thinking about what he understood that made it seem essential and how better it could be achieved.
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This is serious. This is a direct attack on the sovereignty of El Salvador. They need to take action.
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