The Paraguay president bitcoin hack shocked social media this week. President Santiago Peña’s official X account was compromised and used to post false news claiming the country had made Bitcoin legal tender and created a $5 million national BTC reserve.
This incident marks the latest in a wave of crypto misinformation and cyberattacks targeting Latin America in 2025.
The Paraguay President Bitcoin Hack: What Happened?
The fraudulent post appeared Monday. It falsely announced that Paraguay had officially adopted Bitcoin as legal currency and would support it with a $5 million state-controlled Bitcoin fund.
The message was written in English and featured an image in Spanish, which many mistook for an official government statement. But the Paraguay president bitcoin hack quickly became apparent after officials confirmed “unauthorized access” and launched an investigation.
Officials Urge Public to Disregard All Messages
The government responded by asking citizens to ignore any content from the president’s X account until further notice. Paraguay’s cybersecurity team is working with X to uncover who accessed the system and how.
No official arrests or public statements from President Peña have followed the event. However, the fake Bitcoin law post was deleted within hours of appearing.
Cybercrime and Crypto Scams on the Rise in Latin America
This isn’t Paraguay’s first confrontation with cybercriminals. In May, the Ministry of Communications confirmed 18 cyberattacks against state systems. Across Latin America, crypto scams have increased significantly in 2025.
The Paraguay president bitcoin hack highlights how fake announcements can quickly spread and damage public trust — especially when tied to volatile topics like cryptocurrency. As governments increase their online presence, such incidents emphasize the need for stronger digital protections and public awareness.
