Paraguay President’s X Account Hacked to Announce Fake Bitcoin Legalization

Paraguay’s President Santiago Peña appears to have been the target of a cyberattack after a message was posted on his X (formerly Twitter) account, claiming that Bitcoin had been adopted as legal tender and that a $5 million Bitcoin-backed reserve fund was being launched.

Authorities in Paraguay clarified that the statements did not originate from official sources and showed clear signs of unauthorized access. Context is key: while Bitcoin has been tied to alternative economic strategies—like in El Salvador—Paraguay has shown no prior indication of pursuing a similar path.

This situation raises concerns about institutional communication security and reputational risks in a digital age. A false post of this nature can mislead investors, temporarily affect Bitcoin’s price, and damage the country’s credibility on the international stage.

The government is working with platform X and the national cybersecurity team to investigate the incident. In the meantime, citizens have been urged to disregard any messages from the president’s account until official confirmation is issued.