Overview

• Unknown actors breached President Santiago Peña’s X account on June 9, posting irregular messages that deviated from his usual Spanish-language communications.
• The unauthorized posts declared Bitcoin as legal tender in Paraguay, announced a $5 million Bitcoin-backed reserve fund and invited investors to contribute to a crypto wallet.
• Paraguay’s presidential office swiftly labeled the messages as fraudulent and instructed the public to disregard any Bitcoin-related announcements from the hacked account.
• The national cybersecurity team is collaborating with X to trace the breach’s origin and assess the extent of unauthorized access.
• Paraguay hosts major Bitcoin mining operations yet lacks a formal regulatory framework for cryptocurrency, intensifying concerns over social media-driven misinformation.