FAKENEWS

Officials in Paraguay have confirmed that the official X (formerly Twitter) account of President Santiago Peña was hacked and used to spread a false message. The unauthorized post falsely claimed that Paraguay had adopted Bitcoin as legal tender and created a $5 million reserve fund.

🔹 Account used to spread disinformation

The fake post, written in English and accompanied by an image in Spanish, was designed to look like an official government announcement. It stated that Paraguay had officially recognized Bitcoin as legal currency – which was completely false. Authorities promptly warned the public to disregard any messages from the president’s account until further notice.

🔹 Cybersecurity team steps in

Paraguay’s cybersecurity team began cooperating with X’s internal security department to investigate the breach – focusing on how unauthorized access was obtained and by whom. Officials confirmed that suspicious activity was detected, pointing to a clear intrusion.

🔹 Part of a wider wave of crypto scams in Latin America

According to Reuters, the timing of the hack coincides with a broader surge in crypto-related scams on social media across Latin America. These scams often take the form of sponsored posts or fake announcements encouraging people to invest. The hacker behind Peña’s account used a similar tactic.

🔹 Similar cases in Argentina and El Salvador

This case is reminiscent of a recent scandal in Argentina, where President Javier Milei endorsed a crypto token called Libra on social media – a token that quickly collapsed. In El Salvador, President Nayib Bukele genuinely adopted Bitcoin as legal tender in 2021 and launched tokenized bonds shortly thereafter. In contrast, what happened in Paraguay was a digital trap set by hackers exploiting Peña’s account – not a real government policy.

🔹 Paraguay faces frequent cyberattacks

This is not Paraguay’s first encounter with cyberattacks. In May, the Ministry of Communications reported at least 18 cyber incidents targeting over a dozen public institutions, including the Civil Aviation Authority and the Ministry of Justice. These attacks focused on emails, cloud platforms, and login credentials. However, no direct link to the Peña breach has been confirmed.

🔹 No arrests, fake post deleted

President Santiago Peña has yet to make a public statement. The fraudulent post has been deleted, and so far, no suspects have been identified or arrested.

📌 This incident serves as another reminder of how easily social media platforms can be exploited to spread disinformation – and highlights the importance of protecting the digital identities of public figures.

#bitcoin , #cyberattack , #Cryptoscam , #FAKENEWS , #CryptoNewss

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🔁 Share this post to spread awareness.
💬 Comment below: Have you ever acted on fake crypto news? What did you learn?
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