Paraguay President’s X Account Hacked: No, Bitcoin Is Not Legal Tender
2025-06-10
In a striking example of how quickly misinformation can spread in the crypto space, the official X (formerly Twitter) account of Paraguay’s President was hacked on June 9, 2025.
The attacker used the compromised account to falsely declare that Paraguay had adopted Bitcoin as legal tender—mirroring headlines reminiscent of El Salvador’s 2021 move. However, the announcement was entirely fake.
Within hours, the post gained traction online, misleading users and even triggering reactions from some in the global crypto community.
Major outlets including Reuters and CoinDesk later confirmed the statement was the result of a cyberattack.
The Paraguayan government has since clarified the situation, confirming that no legislation or executive action has been taken to make Bitcoin legal tender in the country.
Bitcoin Legal Tender in Paraguay? It’s a Scam
Despite the official-looking announcement, Paraguay has not adopted Bitcoin as legal tender.
The claim stemmed from a post made by hackers who gained access to the president’s X account. Authorities moved quickly to debunk the misinformation and restore control over the account.
This isn’t the first time the crypto industry has seen scams or phishing schemes using hijacked verified accounts to mislead investors.
The fabricated message included false details intended to promote a malicious link, appearing to be part of a larger scheme to exploit excitement around national-level crypto adoption.
Read more: North Korea's $1.5B ETH Hack Tragedy: The Most Phenomenal Hack in History
Crypto Scam via Presidential Social Media Account
The coordinated effort behind this hack reflects a growing trend: crypto scams using high-profile social accounts to lend legitimacy to false claims.
Because government accounts are seen as authoritative, a fake announcement can quickly snowball into global headlines—creating real consequences in both the market and public trust.
Social media remains a powerful communication tool in the Web3 era, but this incident shows how vulnerable even verified accounts can be.
It underscores the need for robust digital security measures among public figures and institutions, especially in countries exploring or engaged in crypto policy debates.
The Real Crypto Policy in Paraguay
Despite this hoax, Paraguay has shown interest in crypto mining and regulation, but it has not made Bitcoin or any other cryptocurrency official tender.
While mining operations benefit from the country’s affordable hydroelectric power, Paraguay’s legislative body has not passed any laws similar to El Salvador’s Bitcoin Law.
In fact, the government has generally taken a cautious stance—open to innovation, but with an emphasis on security, oversight, and preventing illegal activities such as money laundering or fraud.
Read more: Bitcoin Billionaire Denies Offering Rubi Rose $430K in BTC, Labels It a Hoax
Lessons for the Web3 Community
This event is a reminder for crypto enthusiasts, journalists, and investors to double-check breaking news—especially if it seems too good (or dramatic) to be true.
As the space matures, so do the methods of exploitation. Verifying sources and waiting for official government confirmations are crucial when it comes to legal status changes or national crypto announcements.
Read more: Bitcoin Treasury List: Companies and Countries Holding the Most Bitcoin in 2025
Conclusion
The hacking of Paraguay’s President’s X account is the latest cautionary tale in a space where information spreads fast and trust can be easily exploited.
No matter how convincing a message may seem, crypto users should always verify announcements through official government press releases or trusted media sources.
For now, Bitcoin remains unofficial in Paraguay—and the crypto world is once again reminded to stay vigilant.
More about Bitcoin:
XCXC: Crypto in Bitcoin Ordinals, Definition and Price
Bitcoin Billionaire Denies Offering Rubi Rose $430K in BTC, Labels It a Hoax
David Sacks Reveals U.S. Could Acquire More Bitcoin
Czech Minister of Justice Resigns Amid $45M Bitcoin Donation Scandal: What We Know So Far
FAQ
1. Did Paraguay really make Bitcoin legal tender?
No, the claim was false. It originated from a hacked social media account of Paraguay’s President and was quickly debunked by the government.
2. Has any country besides El Salvador made Bitcoin legal tender?
As of now, El Salvador and the Central African Republic are the only countries to have officially adopted Bitcoin as legal tender.
3. Why would someone hack a president’s account to spread crypto news?
Hackers often use high-profile accounts to spread crypto scams or phishing links, hoping to mislead users and exploit trust for financial gain.
4. What is Paraguay’s real stance on crypto?
Paraguay has explored regulations for crypto mining and usage, but it has not recognized any cryptocurrency as legal tender.
5. How can you verify if crypto news is real or fake?
Always cross-reference breaking news with official government statements, reputable media outlets, and trusted crypto analysts before acting on it.
Disclaimer: The content of this article does not constitute financial or investment advice.
