Paraguay President's X Account Hacked, Shares Bitcoin Scam

The X account of the President of Paraguay, Santiago Peña, was hacked on Monday.

The account posted that Paraguay was making bitcoin BTC legal tender, constituting a bitcoin reserve and issuing bitcoin bonds. It also invited investors to donate to a bitcoin wallet.

"Investors: your investment today will determine the scale of this rollout. Secure your stake in Bitcoin," the message said in English. Peña's previous posts were all written in Spanish.

The official page of the Presidency of Paraguay posted on X that the bitcoin-related information was false and that a non-authorized person may have accessed the account.

Paraguay has become home to large bitcoin mining operations, especially belonging to HIVE (HIVE). Unlike El Salvador, however, it has yet to establish a proper crypto regulatory framework.