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Paraguay president's X account hacked in Bitcoin scam; fake post claimed Bitcoin as legal tender, announced $5M crypto fund.
ByAinvest
Monday, Jun 9, 2025 2:02 pm ET1min read
Paraguay president's X account hacked in Bitcoin scam; fake post claimed Bitcoin as legal tender, announced $5M crypto fund.
Asuncion, Paraguay - Paraguay's government has confirmed that President Santiago Pena's X account, previously known as Twitter, has likely been hacked. The hackers posted a message in English, claiming that Bitcoin has been made legal tender in Paraguay and announcing a $5 million Bitcoin-backed reserve fund. The government has urged its citizens to disregard any posts from the account until official confirmation is provided.The post, which appeared on Monday, stated that Paraguay had legalized Bitcoin and was introducing a $5 million Bitcoin-backed reserve fund. However, the government has stated that the account presented "irregular activity," which suggests possible unauthorized entry. The national cybersecurity team is currently working with X to investigate the situation.
The government's statement comes after a series of unusual posts from the President's account, which promoted trading in cryptocurrencies. The government has warned that these posts are not official and should be ignored until further notice. The hack has raised concerns about the security of the President's account and the potential for misinformation.
The incident highlights the risks associated with cryptocurrencies and the importance of verifying information from official sources. Cryptocurrencies are known for their volatility and the potential for hacking and fraud. Investors are advised to be cautious and to verify the authenticity of any information related to cryptocurrencies.
The government's response to the hack has been swift, with the national cybersecurity team working to investigate the incident and to secure the President's account. The government has also urged its citizens to report any suspicious activity to the relevant authorities.
The hack has raised questions about the security of social media accounts used by public figures and the potential for misinformation to spread quickly. The incident also highlights the importance of verifying information from official sources and being cautious about the information received from unofficial channels.
[1] https://www.investing.com/news/forex-news/paraguay-presidents-x-account-likely-hacked-in-bitcoin-scheme-4087395
[2] https://www.bitget.com/news/detail/12560604804316
[3] https://za.investing.com/news/stock-market-news/paraguay-presidents-x-promotes-bitcoin-likely-hacked-93CH-3748883
[4] https://www.tradingview.com/news/reuters.com,2025:newsml_S0N3RG01E:0-paraguay-president-s-x-account-likely-hacked-in-bitcoin-scheme/
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