Paraguay’s Presidential X Account Hacked—Fake Bitcoin Legal Tender Announcement Spreads Before Swift Debunk

Another day, another crypto hoax—this time courtesy of a compromised government account. Paraguay’s presidency confirmed its X (formerly Twitter) account was hacked after a fraudulent post claimed Bitcoin would become legal tender. The fake announcement—briefly sending crypto Twitter into a frenzy—was swiftly shot down by officials.

Just when you thought the 'El Salvador blueprint' hype had faded, bad actors prove the crypto-grifting playbook still works. No word yet on whether the hacker demanded payment in BTC—or just wanted to watch the chaos unfold.

Investigation launched into false post

Minutes after the decree appeared, the official account of the Presidency of the Republic replied, calling the information false. 

It added that the president’s account on X had shown “irregular activity suggesting a potential unauthorized access.” 

According to the statement, the national incident response team, CERTPY, is working with X staff to clarify the situation and asked citizens to disregard any recent content until an official confirmation is released.

The presidency announcement provided no further technical details and did not disclose how the attackers gained access or how long they controlled the account.

No official policy change

Paraguay’s government has issued no official decree that grants Bitcoin legal tender status, sets aside a $5 million reserve, or offers bonds to cryptocurrency users.

The presidency reiterated that it will communicate any genuine policy actions through established official channels once the investigation concludes.

The government removed the fraudulent decree and said it WOULD provide updates on the breach through its verified outlets.