The government reported on Tuesday that cybercriminals compromised President Santiago Pena’s official X account to falsely announce that bitcoin had been recognised as legal tender in Paraguay.
Gustavo Villate, the Minister for Information Technology and Communication, stated that the hackers utilised “relatively advanced techniques” to gain access to Pena’s account, which has 425,000 followers, in an attempt to profit from bitcoin.
The minister said that the hackers had been identified, but did not provide any specifics.
The message posted on Monday, which has since been removed, incorrectly claimed that Pena declared Bitcoin legal tender in the South American nation.
“In my capacity as president of the Republic of Paraguay, and after rigorous evaluations, consultations with economic experts, and a careful review of the possible impacts on our gross domestic product, I have enacted legislation that formally recognizes Bitcoin as legal tender in our great country,” the post read.
El Salvador, a Central American country, is the only nation to have officially adopted bitcoin as legal tender thus far, with varying outcomes.
Pena expressed gratitude to the government for its “swift and professional response” in removing the post, emphasising that the event highlighted the necessity of developing a “safe, reliable, and resilient digital ecosystem.”
This event follows reports that a group known as CyberTeam claimed responsibility for cyberattacks on the IT infrastructures of several Paraguayan governmental organisations.
In light of the hacking incidents, the information ministry postponed this week’s launch of its National Cybersecurity Strategy for 2025-2028.
