In a striking example of how misinformation can ripple through the crypto world, the official X (formerly Twitter) account of Paraguayan President Santiago Peña was compromised on June 9, 2025. The hackers used the account to falsely announce that Paraguay had adopted Bitcoin as legal tender—a move that, if true, would have marked a seismic shift in Latin American crypto policy .
What Really Happened?
The fraudulent post, written in English (unlike Peña’s usual Spanish-language updates), claimed that Paraguay was embracing Bitcoin as an official currency and urged followers to “secure your stake in Bitcoin.” The message even included a call for investments, a classic red flag for crypto scams .
Shortly after, Paraguay’s official government X account swiftly denied the announcement, clarifying that no such decision had been made and that the president’s account had been breached. Authorities confirmed that there is no legislation, policy, or official statement supporting the adoption of Bitcoin as legal tender in Paraguay .
“The statement clarified that the Bitcoin-related claims did not come from a government-approved source and stated that investigations into the breach were already underway.”
Paraguay’s Real Crypto Landscape
While Paraguay is home to significant Bitcoin mining operations—thanks to its abundant hydroelectric power and low energy costs—the country has not established a comprehensive regulatory framework for cryptocurrencies. Unlike El Salvador, which made Bitcoin legal tender in 2021, Paraguay continues to use the Guaraní as its sole official currency, and there are no active legislative proposals to change that .
Why Did the Scam Gain Traction?
The incident highlights the risks of misinformation in the digital asset space. The hackers’ message mimicked previous high-profile crypto scams, using urgent language and wallet addresses to lure unsuspecting users. Such tactics have been seen in other social media breaches targeting the crypto community .
Takeaway for Crypto Enthusiasts
• Always verify major crypto news through official government channels or reputable news outlets.
• Be wary of social media posts—especially those urging immediate investment or sharing wallet addresses.
• Paraguay has not adopted Bitcoin as legal tender, and any claims to the contrary are false.
