Breaking: Hackers Hijack Paraguay President’s X Account To Announce Bitcoin As A Legal Tender

Paraguay’s president is the latest victim of an X hack, which led to a false announcement relating to Bitcoin as a legal tender in the country. The official presidential X account confirmed this development, warning followers to beware.

Paraguay’s President Suffers X Hack Announcing Bitcoin As Legal Tender

In an X post, the official account of the Paraguay president announced that the announcement by the president on his personal X account was false information. They also posted the official statement from the president of the republic regarding this development.

The X post, which was posted in Spanish, read:

Información falsa. Comunicado oficial de la presidencia de la República del Paraguay.

The hacker has gone so far as to hide the reply from the official presidential account in order to lure unsuspecting users. The X post made by the president’s X account announced that Paraguay has made Bitcoin a legal tender and that a $5 million BTC reserve and bond access is now available for crypto-enabled citizens.

The post then urged users to invest by sending any amount to a particular wallet, which the hacker provided in the post. The hacker claimed that the investment will determine the scale of this rollout. Onchain data shows that the address only holds $4 and has not recorded any transactions since the announcement.

The Bitcoin price briefly touched $109,000 on the back of this announcement. However, the flagship crypto has dropped and is currently trading at around $108,400.