10.06.2025 01:06

On Monday, the verified X account belonging to Paraguay's President, Santiago Peña, fell victim to a cyberattack. This breach resulted in the unauthorized dissemination of fraudulent information promoting a Bitcoin investment scheme.

The deceptive posts, a stark contrast to Peña's usual Spanish-language communications, claimed that Paraguay was adopting Bitcoin as legal tender, establishing a national Bitcoin reserve, and even issuing Bitcoin-denominated bonds. These messages further urged investors to contribute to a specific Bitcoin wallet, promising significant returns based on their investment level. The English-language phrasing of these posts was particularly suspicious, adding to the evidence of malicious intent.

A swift response from the official Presidency of Paraguay's X account debunked the fraudulent claims. This official statement categorically denied any such Bitcoin-related initiatives and confirmed the unauthorized access to the President's account. The statement emphasized that an unknown individual had likely compromised the account security.

Paraguay's burgeoning Bitcoin mining industry, notably involving significant operations by companies such as HIVE, provides a context for this incident. However, despite this activity, the nation currently lacks a comprehensive regulatory framework for cryptocurrencies, a fact that makes it a potentially vulnerable target for such scams. Unlike El Salvador's embrace of Bitcoin, Paraguay's approach remains undefined, leaving it susceptible to exploitation. The incident highlights the need for robust cybersecurity measures and clear regulatory guidelines in a rapidly evolving digital landscape. The information was obtained from internet sources.