Key dealers
- A suspected notch by Paraguayan President’s X account led to a false announcement that Bitcoin was a legal tender in Paraguay.
- The announcement aroused doubt due to unusual formatting of decree and absence from official channels, which received an investigation.
Paraguaya President Santiago Peñas X -Account on Monday published a message claims that Bitcoin had been a legal tender in the country. However, the post aroused immediate suspicions of a potential hack, as no official confirmation had been made from government sources.
The lack of policy on official government sites and local media, formatting of non-standard decrees and the unusual marketing language aimed at investors also raised red flags as soon as it emerges.
Posten explained a Bitcoin reserve of $ 5 million and a national bond program for crypto-enabled citizens, with what seemed to be an official decree with Paraguaya’s coat of arms. The announcement stated that Bitcoin would be integrated into the national financial system together with Guaraní.
President Peñas X account showed irregular activity, confirmed Paraguay officials in a statement.
Official statement. pic.twitter.com/bk3xi6ohpp
– Paraguay Presidency (@residenciapy) June 9, 2025
This is a developing story.
