Oof, you really made me do some research to find it again. Spent like 10 min looking for the wrong site because I didn’t remember the original name.
So, Waldo wasn’t really Waldo, nor anybody were an actual person. They were “willies”, it was from an old humor website, Humortadela, “Onde está o Molly?”. You had to find various known personalities and characters from the time, and Molly.
And the site is dead, apparently.