A classic crypto scam attempt made waves yesterday after the official X (formerly Twitter) account of Paraguayan President Santiago Peña was compromised.
Hackers posted a fraudulent announcement claiming that Paraguay had officially adopted Bitcoin as legal tender. The now-deleted post also falsely stated the country would be acquiring $5 million in Bitcoin reserves.
Here’s a quick breakdown of what happened:
The Hack: The official X account of President Santiago Peña was hacked.
The Fake News: A post declared Paraguay had made #Bitcoin legal tender, causing a brief but noticeable spike in BTC's price.
The Correction: The Paraguayan government quickly debunked the news, confirming the president's account was compromised and the information was false. The malicious post was removed.
The Motive: This appears to be a typical "pump-and-dump" style scam, aiming to manipulate market sentiment and prices for the scammers' benefit.
This incident is a stark reminder for everyone in the crypto space to remain vigilant. Always verify news from multiple official sources before making any financial decisions. Scammers are increasingly targeting high-profile accounts to spread misinformation.
Stay safe and always double-check your sources!$BTC
#CryptoScam #SecurityAlert #Paraguay #Bitcoin #CryptoNews #StaySafe
