#BTC110KSoon? Bitcoin Surges Past $110K After Fake Legal Tender Announcement from Hacked Paraguayan President’s X Account
Bitcoin (BTC) jumped 4% on Monday, briefly crossing the $110,000 mark after a false post from Paraguayan President Santiago Peña's hacked X account claimed the country had adopted Bitcoin as legal tender and created a $5 million BTC reserve.
The misleading message encouraged investors to "secure your stake in Bitcoin now" and included a wallet address—later revealed to hold only $4. The official Presidencia Paraguay account swiftly removed the tweet and confirmed the breach.
No investor losses have been reported, though the incident echoes past high-profile hacks, such as the 2020 Bitcoin scam involving accounts of Joe Biden and Barack Obama.
BTC's rally also coincided with positive sentiment following US-China trade talks in London between top American and Chinese officials.
