The workplace of Paraguayan President Santiago Peña appeared to reject a post on the social networks platform X that revealed the nation would start acknowledging Bitcoin as legal tender.
In a Monday post on X, the main account of the workplace of Paraguay’s president asked fans to “dismiss any just recently released material” without main verification from his workplace.
The post was made minutes after Peña’s individual account on X revealed (in English) that Paraguay had actually made Bitcoin (BTC) legal tender, and developed a BTC reserve worth $5 million, likewise supplying a wallet address for financiers to “protect [their] stake.”
At the time of publication, Peña’s individual post had actually been eliminated, while the federal government post was still survive on the platform. The president’s workplace stated it was dealing with the social networks platform to “clarify the circumstance” and for the general public to just think about info provided through authorities channels.
The X post came as some nations in Central and South America were supposedly thinking about following El Salvador’s example by embracing Bitcoin as a reserve possession. Pressed by President Nayib Bukele, El Salvador started acknowledging cryptocurrency as legal tender in 2021, though its status is rather of a legal gray location after a handle the International Monetary Fund revealed in December 2024.
Related: Country-wide Bitcoin adoption a variety for nationwide economies
Lots of hackers utilize X to interrupt markets
Even before Tesla CEO Elon Musk bought X, then Twitter, in 2022, lots of hackers had actually utilized the social networks platform to promote frauds including cryptocurrencies, frequently by pirating accounts connected to celebs or political leaders. A group jeopardized Indian Prime Minister Narendra Modi’s Twitter account in 2021 to incorrectly declare the nation had actually embraced Bitcoin as legal tender.
More just recently, a hacker in the United States accessed to the Securities and Exchange Commission’s X account through a SIM swap attack, incorrectly revealing the regulator had actually authorized the listing and trading of area BTC exchange-traded funds on exchanges. The private, Eric Council Jr., was apprehended and sentenced to 14 months in jail for his function in the plan.
Publication: United States threats being ‘front run’ on Bitcoin reserve by other countries: Samson Mow