Paraguayan President’s X Account Hacked, False Bitcoin Legal Tender Claims Posted

The X account of Santiago Peña, the President of Paraguay, was compromised on Monday, sparking confusion with false announcements related to Bitcoin. The hacked post falsely declared that Paraguay was adopting Bitcoin (BTC) as legal tender, forming a national Bitcoin reserve, and issuing Bitcoin-backed bonds. It also encouraged users to invest in the initiative by sending funds to a listed Bitcoin wallet.

The misleading message, notably written in English—while Peña’s usual posts are in Spanish—stated: “Investors: your investment today will determine the scale of this rollout. Secure your stake in Bitcoin.”

In response, the official X account of the Presidency of Paraguay confirmed the incident, stating that the Bitcoin-related content was false and likely posted by an unauthorized party who gained access to the president’s account.

Although Paraguay is known for hosting large-scale Bitcoin mining operations, especially by companies like HIVE Blockchain Technologies (HIVE), the country has not made any moves to legalize Bitcoin as national currency. Unlike El Salvador, which officially adopted BTC as legal tender in 2021, Paraguay has yet to implement a comprehensive cryptocurrency regulatory framework.

The incident highlights growing concerns about cybersecurity breaches targeting high-profile government officials and the potential market impact of misinformation related to digital assets. As of now, Bitcoin is not legal tender in Paraguay, and no official plans to issue Bitcoin bonds or reserves have been announced by the government.

The post has since been deleted, and authorities are expected to investigate the breach. Investors are advised to verify official government updates through trusted channels before acting on sensitive financial information related to cryptocurrencies.