Hackers posted a message on the X account of Paraguayan President Santiago Peña, falsely claiming Bitcoin had been recognized as legal tender. At the time of writing, the post has been removed.
The post also claimed that authorities had formed a $5 million reserve in the cryptocurrency for the national treasury.
Journalist Colin Wu stated that the information is false.
The social media account of Paraguayan President Santiago Peña appears to have been compromised, with a post claiming that Bitcoin has been declared legal tender in Paraguay and that a $5 million BTC reserve has been established as part of the national treasury. However, on-chain…
— Wu Blockchain (@WuBlockchain) June 9, 2025
The wallet address mentioned in the post holds assets worth $4. No transactions have been made to it following the statement, confirming the message is fake.
The official account of the president’s office urged followers to “disregard any recently published content” without official confirmation.
Comunicado oficial. pic.twitter.com/Bk3XI6ohpp
— Presidencia Paraguay (@PresidenciaPy) June 9, 2025
Back in April, hackers exploited the X account of UK Member of Parliament and Leader of the House of Commons Lucy Powell to promote a fake token called House of Commons Coin.