Did Paraguay Just Legalize Bitcoin or Was the President Hacked?
A tweet from Paraguay’s President Santiago Peña claimed the country has adopted Bitcoin as legal tender. The post included a graphic styled as a presidential decree, stating that Paraguay had created a $5 million Bitcoin reserve.
It also suggests that the country would offer crypto bond access to “crypto-enabled citizens.” However, a close look at the post suggests the President’s official X account could be hacked.
Another President Hacked to Steal Crypto
The image attached to the tweet appears styled like a presidential decree. However, its design, tone, and formatting do not match official government documents from Paraguay.
The language contains unusual phrasing. Terms like “etiquetado de tesorería” and “ciudadanos habilitados por criptomonedas” are not used in formal legal contexts.
The Alleged Fake Post from Paraguay’s President. Source: X The seal on the document looks digitally inserted. The border design is generic. The announcement uses conversational language instead of formal legal or policy terminology.
Most notably, the tweet includes a Bitcoin wallet address. This is a common feature in crypto scam posts and highly unorthodox in government communication.
President Peña has not publicly supported Bitcoin as legal tender before. His administration has taken a cautious approach to crypto regulation.
The Potential Fake Bitcoin Legalization Letter Paraguay allows Bitcoin mining due to its hydroelectric surplus. But the government has expressed concern about illegal miners exploiting the national power grid.
Peña is a trained economist and former IMF advisor. His policy focus has been on fiscal reform and digital infrastructure—not crypto adoption.
In 2021, Paraguay’s Congress debated a bill to regulate crypto mining. However, that effort predated Peña’s presidency and did not involve legal tender status.
The current administration has not pursued any known efforts to integrate Bitcoin into its national currency system or treasury operations.
INTEL: PARAGUAY GOVERNMENT SAYS PRESIDENT PENA'S X ACCOUNT HAS PRESENTED IRREGULAR ACTIVITY https://t.co/9OZomNTzp3
— Solid Intel(@solidintel_x) June 9, 2025
The evidence strongly points toward a hacked account or a fake impersonation, designed to mislead and possibly defraud crypto investors.
Including a Bitcoin wallet address is unprecedented in national policy and a classic tactic in crypto scams.
