Table of contents
- Hacker attack and fake news: Bitcoin is not official currency
- President Peña responds: “Disregard the recent posts”
- Government reaction: quick and effective
- The moral: beware of digital disinformation
- Bitcoin in Paraguay? Not ye…
Hacker attack and fake news: Bitcoin is not official currency
Paraguay found itself at the center of media attention after a cyberattack on the X (formerly Twitter) account of President Santiago Peña. A post, seemingly issued by the president, declared Bitcoin as legal tender in the country. But it was a complete fabrication.
The fake post featured a presidential-style speech in which Peña claimed the move followed “rigorous evaluations” and reflected an “unwavering commitment to financial innovation.” It was crafted to sound convincing and it worked, at least for a few minutes.
President Peña responds: “Disregard the recent posts”
President Peña quickly issued a clarification, saying his profile had shown “irregular activity suggesting unauthorized access.” He urged followers to ignore any recent content until officially confirmed by his office.
Government reaction: quick and effective
The Minister of Information and Communication, Gustavo Villate, later told reporters that the attack was “resolved immediately” and the origin of the unauthorized activity had already been identified. The presidential account was secured, and any risk neutralized.
The moral: beware of digital disinformation
This episode highlights how fake news can spread rapidly when it comes from institutional accounts, especially when involving sensitive financial topics like cryptocurrency. A declaration about Bitcoin as a legal currency could easily cause panic, speculative investments, and market manipulation.
Bitcoin in Paraguay? Not yet…
For now, Paraguay has no intention of adopting Bitcoin as legal tender. While the country has shown interest in crypto mining, particularly due to its cheap energy resources, it has not enacted any law making Bitcoin equivalent to the Paraguayan guaraní.
Questions and answers
- Has Paraguay adopted Bitcoin as legal tender?
No. It was a fake news story spread via a hacked presidential account. - Who hacked the president’s X account?
The source has been identified by authorities, but their identity hasn’t been disclosed publicly. - Why spread such Bitcoin news?
To manipulate public opinion and potentially impact cryptocurrency markets. - Does the government support cryptocurrency?
While there’s interest in Bitcoin mining, no cryptocurrency is legally recognized for payments. - How did the president react?
He issued a public statement warning users to ignore recent posts until confirmed. - Could this attack have market effects?
It may have caused brief speculative shifts, though long-term effects remain unclear. - Is there an ongoing investigation?
Yes. Authorities are investigating the cyberattack and its source. - Is there a law on crypto in Paraguay?
There is no comprehensive legal framework yet, but debates are ongoing. - How can official social accounts be protected?
With two-factor authentication, continuous monitoring, and advanced security protocols. - What are the global implications of such attacks?
They highlight the digital vulnerability of world leaders and the need for strong cyber security systems.
