Crypto Hoax: Presidential X Account Shared False Bitcoin News

Crypto Hoax- Hacked Post Falsely Claims Paraguay Is Launching Bitcoin Bonds

Crypto Hoax– The official X account of Santiago Peña, President of Paraguay, was hacked on Monday, spreading false information about the country’s adoption of Bitcoin.

Hacked Post Claims Bitcoin Legal Tender, Bond Issuance

The compromised account posted in English, claiming that Paraguay would adopt Bitcoin as legal tender, create a national Bitcoin reserve, and begin issuing Bitcoin-backed bonds. The post also included a suspicious invitation for investors to donate to a Bitcoin wallet, with the message:

Investors: your investment today will determine the scale of this rollout. Secure your stake in Bitcoin.

This sudden shift in tone and language immediately raised red flags, as President Peña’s previous posts were consistently in Spanish and made no mention of cryptocurrency plans of this scale.

Presidency Confirms Breach, Denies Bitcoin Claims

Shortly after the post went live, the official X account of the Presidency of Paraguay issued a statement confirming that the information was false and posted by an unauthorized individual who likely gained access to the President’s personal account. Authorities have yet to confirm how the breach occurred or who is responsible.

The content related to Bitcoin is not official and should be disregarded.

Paraguay’s Real Crypto Stance

While Paraguay has become a hub for Bitcoin mining, particularly with operations by companies like HIVE, the country has not adopted Bitcoin as legal tender and does not currently have a formal cryptocurrency regulatory framework in place. Unlike El Salvador, Paraguay’s government has been more reserved in its crypto approach.

This incident highlights growing cybersecurity threats targeting political figures in regions gaining attention from the global crypto community.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.