Michaela
Paraguayan President Santiago Peña’s office has disavowed an unauthorized post from his official X account that claimed the country would adopt Bitcoin as legal tender, calling it a false announcement tied to a Bitcoin scam.
A June 9 post from President Peña’s official X account confirmed the account had been compromised and used to spread false information related to Bitcoin. The statement noted that the account is now under the oversight of CERTPY, a powerful cybersecurity tool, and advised the public to disregard any unverified content.
The confirmation of the breach came shortly after the president’s official account published a post falsely claiming that Paraguay had adopted Bitcoin as legal tender, created a $5 million national Bitcoin reserve, and included a wallet address inviting investors to participate.
Several X users expressed skepticism about the initial post, with many questioning its authenticity and suggesting the president’s account may have been compromised as part of a Bitcoin scam. Some noted the unusual use of English, rather than the president’s typical Spanish-language posts, as a possible indicator that the message was not legitimate.
The post surfaced amid growing speculation that several Central and South American nations might follow El Salvador’s lead in adopting Bitcoin as a reserve asset. El Salvador, under President Nayib Bukele, became the first country to recognize Bitcoin as legal tender in 2021.
In May, Panama City Mayor Mayer Mizrachi appeared to signal interest in establishing a municipal Bitcoin reserve after meeting with two senior figures behind El Salvador’s national crypto strategy. Following discussions with Bitcoin proponents Max Keiser and Stacy Herbert, Mizrachi posted a brief message on X reading simply, “Bitcoin Reserve,” hinting at potential local-level adoption.
The incident emphasizes growing concerns over the security of official social media accounts, which have increasingly become targets for phishing campaigns, coordinated disinformation efforts, and Bitcoin scam attempts. As digital platforms remain central to government communication, cybersecurity experts warn that stronger safeguards and public verification tools are essential to prevent future breaches and maintain public trust.
Read More
- US Generals Quietly Back Bitcoin Reserve in China Standoff
- Pakistan Govt Launches Bitcoin Reserve at 2025 BTC Event
- Pump.fun X Account Hacked, Promoted Fake ‘PUMP’ Token
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
