In a surprising turn of events, rumors swirled across social media platforms claiming that Paraguay had declared Bitcoin as legal tender. The speculation originated from a post on the official X account of Paraguayan President Santiago Peña, which also encouraged citizens to invest in the cryptocurrency and linked to a Bitcoin address. However, the government quickly stepped in to clarify the situation.
The post, which caused a temporary spike in Bitcoin prices, was soon deleted after the Presidency of Paraguay flagged it as false information. Authorities suspect that the president’s X account was hacked, leading to the unauthorized announcement. The government issued a warning about potential unauthorized access and urged the public to disregard the claim.
This incident has reignited discussions about the adoption of cryptocurrencies in Latin America, especially following El Salvador’s historic move to make Bitcoin legal tender in 2021. While Paraguay has been rumored in the past to be considering similar measures, officials have consistently denied any plans to follow suit.
Paraguayan lawmakers, including Congressman Carlos Rejala, have previously expressed interest in regulating cryptocurrencies rather than adopting them as legal tender. This latest hoax serves as a reminder of the challenges and risks associated with cybersecurity in the digital age, especially for high-profile figures.
The false announcement briefly impacted the cryptocurrency market, with Bitcoin experiencing a surge of over 4% before the clarification was made. Investors and enthusiasts are now cautioned to verify information from official sources to avoid falling prey to scams or misinformation.
As investigations into the hack continue, this event underscores the importance of securing digital platforms and the potential consequences of misinformation in the rapidly evolving world of cryptocurrency. The Paraguayan government has yet to release further details on the breach or any measures to prevent future incidents.
Alfred Lee
