Key Takeaways
- A suspected hack of Paraguayan President’s X account led to a false announcement about Bitcoin becoming legal tender in Paraguay.
- The announcement raised doubts due to unusual decree formatting and absence from official channels, prompting an investigation.
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Paraguayan President Santiago Peña’s X account on Monday posted an announcement claiming Bitcoin had been made legal tender in Paraguay, raising suspicions of a potential hack.
The post declared a $5 million Bitcoin reserve and a national bond program for crypto-enabled citizens, featuring what appeared to be an official decree with the Paraguayan coat of arms. The announcement stated that Bitcoin would be integrated into the national financial system alongside the Guaraní.
Several irregularities prompted immediate skepticism, including the absence of the policy on official government websites and local media, non-standard decree formatting, and unusual promotional language targeting investors.
President Peña’s X account showed irregular activity, Paraguay officials confirmed in a statement.
Comunicado oficial. pic.twitter.com/Bk3XI6ohpp
— Presidencia Paraguay (@PresidenciaPy) June 9, 2025
This is a developing story.
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