President Santiago Peña’s official X account was compromised on Monday, resulting in a false announcement claiming Paraguay adopted Bitcoin as legal tender. The fake post, which included a specific Bitcoin wallet address and urged investments, falsely claimed Paraguay established a $5 million Bitcoin reserve fund and offered crypto-based bonds. ❌ 💸 This information spread quickly before the government clarified the situation. 🚨 The office of President Peña confirmed his official social media account was compromised on Monday. The post contained clear warning signs: it included a specific Bitcoin wallet address alongside text implying public deposits could influence policy. “Investors: your investment today will determine the scale of this deployment” read the post, later deleted. The wallet, which appeared in English unlike nearly all other posts from his Spanish-language account, held only $4 worth of Bitcoin. 🚨 This event follows a known pattern. Hackers frequently target high-profile social media accounts seeking cryptocurrency scams. The fabricated announcement spread rapidly online before the government response. ➡️ It’s important to note that Paraguay is not pursuing this currently. ❌ However, Paraguayan lawmakers are drafting rules to oversee cryptocurrency operations. The country actively seeks cooperation with El Salvador on crypto matters and attracts Bitcoin miners due to its accessible energy resources.