Paraguay denies Bitcoin legal tender announcement

Paraguay’s government warned of possible unauthorised access to President Santiago Peña’s X account after a false Bitcoin legal tender claim. The now-deleted message announced a $5 million Bitcoin reserve fund and featured a decree with the national coat of arms.

Officials quickly noted inconsistencies in the statement’s formatting and tone. No matching information was published on government websites or state-run media. These red flags led observers to question the post’s authenticity almost immediately.

Authorities confirmed that the president’s account had shown signs of ‘irregular activity’, suggesting it may have been compromised. Citizens have been urged to ignore the claim and await verified updates through official channels.

Although countries like El Salvador have formally adopted Bitcoin as legal tender, Paraguay has made no such move. At the time of writing, no further details had been released regarding the source or method of the suspected breach.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!