False Bitcoin Announcement on President’s X Account Highlights Digital Threats in Paraguay

On June 9, 2025, the Paraguayan government announced that President Santiago Peña’s official X account had been compromised.

The government’s official statement confirmed that the account showed irregular activity, prompting an immediate investigation by CERTpy, Paraguay’s cybersecurity team, in cooperation with X’s platform security.

The hacked account published a message claiming Paraguay had recognized Bitcoin as legal tender, created a $5 million Bitcoin reserve, and offered government bonds for crypto users.

The message included a Bitcoin wallet address and used language typical of cryptocurrency scams. The government quickly denied the announcement, warning citizens to ignore recent posts from the president’s account until an official statement appeared.

Paraguayan authorities deleted the fraudulent post and restored control of the account. President Peña later thanked CERTpy and X for their swift response, emphasizing the importance of cybersecurity for all citizens and public officials.

Cyberattacks Expose Paraguay’s Digital Weaknesses

This incident follows a series of cyberattacks on Paraguayan government institutions. In 2025 alone, at least 18 public agencies suffered breaches, including the civil aviation regulator and the justice ministry.

In May, hackers extracted millions of personal records from health and public sector databases. The group “CyberTeam” claimed responsibility for some attacks, highlighting Paraguay’s digital vulnerabilities.

Paraguay has not passed any law making Bitcoin legal tender. The country hosts large Bitcoin mining operations due to cheap hydroelectric power, but no official policy change has occurred.

The government has discussed cryptocurrency regulation and cooperated with El Salvador on digital asset frameworks, but no such dramatic move as claimed in the hack has taken place.

No funds were sent to the scam wallet, and the government confirmed that all official announcements would come through verified channels. This event shows how attackers exploit the credibility of public figures to promote scams.

The incident also underlines the risks for citizens and markets when false information spreads through official channels. Paraguay’s experience highlights the need for strong digital security and public awareness.

As more business and government activity moves online, the risks of cybercrime and misinformation increase. This story matters because it shows how quickly digital threats can affect trust, markets, and national reputation.