The office of President Paraguayen Santiago Peña seemed to deny an article on the X social media platform which announced that the country would begin to recognize Bitcoin as a call for tenders.
In an article on Monday on X, the official report of the Office of the President of Paraguay asked subscribers to “reject any recently published content” without official confirmation from his office.
The message was published a few minutes after the PEña personal account on X announced (in English) that Paraguay had made a legal Bitcoin (BTC) obligation and established a BTC reserve worth $ 5 million, also offering a portfolio address to investors to “secure secure [their] bet.”
At the time of the publication, the PEña’s personal position had been deleted, while the post of government was still live on the platform. The president’s office said that he was working with the social media platform to “clarify the situation” and for the public to examine only the information issued through official channels.
The X Post came while some countries in Central America and South have planned to follow the example of El Salvador by adopting Bitcoin as a reserve asset. Pushed by President Nayib Bukele, El Salvador began to recognize cryptocurrency as a call for tenders in 2021, although his status is in a way a legal gray area after an agreement with the International Monetary Fund announced in December 2024.
In relation: Adoption of Bitcoin across the country a mixed bag for national economies
Many hackers use X to disrupt markets
Even before the CEO of Tesla, Elon Musk did not buy X, then Twitter, in 2022, many hackers had used the social media platform to promote scams involving cryptocurrencies, often by diverting accounts attached to celebrities or politicians. A group compromised the Twitter account of the Indian Prime Minister Narendra Modi in 2021 to wrongly affirm that the country had adopted Bitcoin as a tender.
More recently, a hacker in the United States had access to the X account of the Securities and Exchange Commission through a SIM exchange attack, wrongly announcing that the regulator had approved the registration and trading of the BTC negotiated funds on trade. The individual, Eric Council Jr., was arrested and sentenced to 14 months in prison for his role in the program.
Review: American risks are “front run” on the Bitcoin reserve by other nations: Samson Mow
