Imagine that, the President of Paraguay drops a bombshell, Bitcoin is now legal tender, with a $5 million BTC reserve and crypto bonds for citizens.

Sounds like a dream come true for crypto fans, right? No. It was all a big, fat hoax.

The President’s account got hacked

Turns out, President Santiago Peña’s verified X account got hacked. Yep, someone sneaky slipped in and posted a fake declaration claiming Bitcoin would officially become legal tender on June 9.

The post even showed a Presidential speech about Bitcoin legalization, promising a government Bitcoin stash and bonds exclusively for crypto users.

They even threw in a Bitcoin address, like a cherry on top, urging people to secure your stake. But guess what? That wallet hasn’t seen a single satoshi.

No

The government was pretty quick to slam the brakes. Minutes after the bogus post went live, the official Presidency account shot back, calling the whole thing false and confirming suspicious activity on Peña’s X account.

The national cybersecurity team, CERTPY, is now on the case, working with X’s staff to figure out what went down.

They told everyone to ignore any recent posts until they get the official word. No juicy details yet on how the hackers pulled it off or how long they had control.

The point is, Paraguay’s government hasn’t passed any law making Bitcoin legal tender. No $5 million Bitcoin reserve. No crypto bonds.

Nada. The presidency stressed that any real policy changes will come through official channels once the investigation wraps up.

Don’t believe

So, for now, that flashy decree is gone, wiped off the digital map. The government promises to keep the public updated through verified sources.

Look, it’s like when your office’s email system gets hacked, and suddenly everyone’s getting weird messages about urgent payments or account updates.

You know it’s a scam, but for a moment, chaos reigns. Same thing here, but on a national scale, with Bitcoin thrown into the mix.

Bottom line? Don’t believe everything you see online, even if it’s from the president’s own account.

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.