{"id":44004,"date":"2025-06-10T10:00:55","date_gmt":"2025-06-10T07:00:55","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=44004"},"modified":"2025-06-10T05:49:15","modified_gmt":"2025-06-10T02:49:15","slug":"paraguay-bitcoin-announcement-sparks-panic-whats-the-truth","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/paraguay-bitcoin-announcement-sparks-panic-whats-the-truth\/","title":{"rendered":"Paraguay Bitcoin Announcement Sparks Panic: What\u2019s the Truth?\u00a0\u00a0"},"content":{"rendered":"<p><span data-contrast=\"auto\">On June 9, 2025, the X account of <strong>Paraguay\u2019s President Santiago Pena<\/strong> was <strong>hacked<\/strong>. A fake announcement was posted, claiming that Paraguay had adopted Bitcoin as legal tender. The hackers also declared that the country would establish a <strong>Bitcoin reserve<\/strong> and issue <strong>Bitcoin bonds<\/strong>. Moreover, they urged investors to send donations to a specific <strong>Bitcoin wallet<\/strong>.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><span data-contrast=\"auto\">Bitcoin Fraud in Paraguay\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">The official X account of the Presidency of the Republic of Paraguay swiftly issued a statement, denying the claims and clarifying that unauthorized individuals had taken control of the president\u2019s account.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-44009 \" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/06\/Ekran-goruntusu-2025-06-10-015012.png\" alt=\"\" width=\"661\" height=\"381\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/06\/Ekran-goruntusu-2025-06-10-015012.png 822w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/06\/Ekran-goruntusu-2025-06-10-015012-300x173.png 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/06\/Ekran-goruntusu-2025-06-10-015012-768x443.png 768w\" sizes=\"auto, (max-width: 661px) 100vw, 661px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"auto\">While Paraguay hosts large-scale <a href=\"https:\/\/coinengineer.net\/blog\/solo-bitcoin-miner-899826-block-reward-2025\/\"><strong>Bitcoin mining<\/strong><\/a> operations by companies such as HIVE, it lacks comprehensive cryptocurrency regulations\u2014unlike<a href=\"https:\/\/coinengineer.net\/blog\/el-salvador-bitcoin-purchases-imf-warnings-2025\/\"><strong> El Salvador<\/strong><\/a>. This regulatory gap makes Paraguay an attractive target for cybercriminals, who exploit it by spreading fake announcements aimed at undermining investor trust.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"pt\" dir=\"ltr\">Comunicado oficial. <a href=\"https:\/\/t.co\/Bk3XI6ohpp\">pic.twitter.com\/Bk3XI6ohpp<\/a><\/p>\n<p>&mdash; Presidencia Paraguay (@PresidenciaPy) <a href=\"https:\/\/twitter.com\/PresidenciaPy\/status\/1932128676033728834?ref_src=twsrc%5Etfw\">June 9, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-contrast=\"auto\">Within hours, government officials addressed the public, confirming that <strong>President Pena\u2019s<\/strong> account had been <strong>hacked<\/strong> and that the posts were false. Authorities stated that the aim was to deceive <strong>crypto<\/strong> investors. Paraguay\u2019s National Cybersecurity Team has launched an investigation and initiated direct communication with X. Meanwhile, <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><strong>Bitcoin\u2019s price<\/strong><\/a> surged to<strong> $109,000<\/strong> following the fake announcement. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p>These types of cyber attacks are showing an increasing trend worldwide. For example, in <strong>2020,<\/strong> the X accounts of celebrities like <strong><a href=\"https:\/\/coinengineer.net\/blog\/trump-law-spending-elon-musk-comment-abomination\/\">Elon Musk<\/a>, Bill Gates<\/strong>, and <strong>Barack Obama<\/strong> were hacked to conduct <strong>Bitcoin scams<\/strong>. Most recently, in May 2025, the X accounts of <strong>Ethereum Layer-2 projects<\/strong> such as ZKsync and Matter Labs were hacked to carry out fake <strong>SEC<\/strong> announcements and airdrop scams.<\/p>\n<p><span data-contrast=\"auto\">The hackers\u2019 objective was clear: to exploit a low-regulation country and use false official statements to mislead investors. Officials have not yet disclosed how much money was sent to the <strong>Bitcoin wallet<\/strong>, but they acted quickly to contain the incident.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\"> <em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 9, 2025, the X account of Paraguay\u2019s President Santiago Pena was hacked. A fake announcement was posted, claiming that Paraguay had adopted Bitcoin as legal tender. The hackers also declared that the country would establish a Bitcoin reserve and issue Bitcoin bonds. Moreover, they urged investors to send donations to a specific Bitcoin<\/p>\n","protected":false},"author":36,"featured_media":44005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[17774,17782,17781,17780,17775,17777,17783,17778,17779,17784,17773,17776,17785],"class_list":["post-44004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-bitcoin-legal-tender-hoax","tag-bitcoin-price-manipulation","tag-crypto-cybersecurity-incident","tag-crypto-regulation-gaps","tag-crypto-scam-alerts","tag-fake-bitcoin-bond-news","tag-fake-crypto-announcements","tag-hacked-crypto-news-2025","tag-latin-america-crypto-fraud","tag-paraguay-blockchain-news","tag-paraguay-crypto-news","tag-presidential-account-hacked","tag-social-media-crypto-hacks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Paraguay Bitcoin Announcement Sparks Panic: What\u2019s the Truth?\u00a0\u00a0 - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/paraguay-bitcoin-announcement-sparks-panic-whats-the-truth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paraguay Bitcoin Announcement Sparks Panic: What\u2019s the Truth?\u00a0\u00a0 - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On June 9, 2025, the X account of Paraguay\u2019s President Santiago Pena was hacked. 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