Paraguayan President’s X Account Hacked, False Bitcoin Announcement Made

A suspicious message appeared on the X (formerly Twitter) profile of Paraguayan President Santiago Peña on Monday. The post falsely claimed that Paraguay had adopted Bitcoin as legal tender and was creating a $5 million BTC reserve.

Many followers immediately questioned the announcement in the comments section.

Approximately 13 minutes later, another official Paraguayan government account revealed that Peña’s account may have been hacked. They requested that the public disregard any messages until an official confirmation could be issued.

Fake Announcement Claims Bitcoin Adoption

The now-debunked post from Santiago Peña garnered nearly 200,000 views. The fraudulent text stated that Paraguay had adopted Bitcoin as legal tender and was establishing a strategic cryptocurrency reserve.

The fake post read: “Official: Paraguay makes Bitcoin legal tender! President Peña confirms a $5 million BTC reserve + access to bonds for citizens with cryptocurrencies.”

However, the post included a Bitcoin address with the phrase “your investment today will determine the scale of this implementation,” a clear indication of a scam.

In other words, no one appears to have fallen for the scam so far, although the post remains active on X.

Aside from this obvious red flag, the content of the fake announcement was well-written, citing the benefits of Bitcoin and how the cryptocurrency could improve the economy and the lives of Paraguayans.

Government Denies Bitcoin Adoption

Shortly after Santiago Peña’s post, another verified Paraguayan government account refuted the information. The statement indicated that the account appeared to have been compromised by unauthorized individuals.

“We inform you that the official account of the President of the Republic on the social network X has presented irregular activity that suggests possible unauthorized access,” the government stated.

“The CERTPY team is already working together with the X platform to clarify the situation,” the Presidencia Paraguay account continued. “We ask citizens to disregard any content published recently until an official confirmation is issued.”

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