- Paraguayan president’s X account hacked; scammers faked Bitcoin legal tender announcement using a $5M BTC reserve lure.
- Argentina’s anti-corruption office cleared President Milei over Libra token promo; deemed personal post, not governmental action.
Paraguay’s President Santiago Peña removed a post from his X account this week following a suspected hack. Cryptocurrency scammers used the compromised account. The post falsely claimed Paraguay had approved Bitcoin as legal tender.
Labeling the Monday afternoon post “false,” Paraguay’s president stated on X that Peña’s account showed “irregular activity,” indicating “possible unauthorized access.” The country’s Cyber Incident Response Team is collaborating with the social media platform to investigate.
Irregularidades detectadas en la cuenta oficial de Santiago Peña en la plataforma X
“Los indicios hacen indicar a que era un intento de fraude para poder recabar fondos por el propio anuncio, este anuncio tiene un wallet, el wallet tiene trazabilidad” pic.twitter.com/6Z5CxXCzVp
— Paraguay TV (@ParaguayTVHD) June 10, 2025
The deleted post displayed an image of a statement in Spanish, attributed to Peña. It encouraged Paraguayans to purchase digital assets supposedly planned for issuance by the government.
However, the statement’s text was written in English. It referenced a $5 million BTC reserve and access to cryptocurrency-enabled bonds for citizens.
This incident aligns with a known pattern: rising Bitcoin prices often trigger more cryptocurrency scams. These scams frequently use social media posts, ads, or messages to lure victims into fraudulent investments.
Last month alone, the Communications Ministry detected at least 18 hacking incidents. These attacks affected over a dozen public institutions, including the civil aviation regulator and the Justice Ministry.
La policia Argentina acaba de allanar la oficina de la empresa tech forum, de Mauricio Novelli y Manuel Terrones Godoy alias Kmanus88 y la casa de este también. Todo esto por la estafa del token Libra que promociono Javier Milei presidente de Argentina.
Novelli y Kmanus88… pic.twitter.com/GF6yzBjrgu— Profesor Maverik – Bitcoin (@Maveriktrader) March 8, 2025
Meanwhile, in Argentina, the government’s Anti-Corruption Office (OA) concluded its review of President Javier Milei’s involvement with the “Libra” token. The OA determined that Milei did not violate the public ethics law by promoting Libra’s launch via his personal X account in February.
An official resolution, dated June 5th, stated Milei acted as a private citizen and economist. The OA asserted he did not use his official role or formal state channels. The agency argued the president’s posts were not acts of government. They emphasized that officials’ personal social media accounts are not official state channels unless explicitly designated as such.
The Libra token gained attention after Milei’s post, rising sharply before crashing dramatically. This collapse followed concerns it might be a scam, fueled by reports of suspicious liquidity withdrawals and token concentration in few wallets. While Milei deleted his promotional post quickly, the token’s fall reportedly cost many traders money.
Despite the financial impact and controversy, the OA found no evidence Milei personally benefited from Libra. They also found no links between the president and the individuals behind the project, including Kelsier Ventures and developers Hayden Davis, Mauricio Novelli, and Manuel Terrones Godoy.
The OA report also cleared Sergio Morales, a former advisor to Argentina’s National Securities Commission (CNV) board. However, it suggested the CNV should consider whether Morales might have misused privileged information to benefit those linked to Libra.
El exasesor de la CNV, Sergio Morales, se presentó ante la justicia tras ser imputado en la investigación por la criptoestafa del token $LIBRA, promovido por el presidente argentino Javier Milei. Se investigan delitos como estafa, cohecho y tráfico de influencias, vinculados a… pic.twitter.com/8N8MmCXHzi
— Lis cesan (@LisCesan) March 11, 2025
It’s important to note this OA investigation is separate from a special task force Milei himself created to probe the Libra case. That task force, the UTI, was dissolved by decree on May 19th. The government stated it had fulfilled its purpose: gathering information on Libra for the Public Prosecutor’s Office.
While the OA’s decision closes the administrative review regarding public ethics, judicial investigations continue. Authorities in Argentina and abroad are examining potential criminal and financial liabilities related to the Libra collapse.
In the United States, the law firm Moyano & Asociados filed a formal complaint with the Department of Justice and the FBI. This complaint accuses Libra’s main promoters – including President Milei and consultant Hayden Mark Davis – of leading a fraudulent operation harming international citizens.
Further, in early April, it was revealed that former New York prosecutor Timothy Treanor is leading a class-action lawsuit in New York Federal Court. Treanor, specializing in crypto-related financial crimes, alleges the Libra launch involved irregularities and market manipulation that deceived thousands of investors.
AHORA
— Martín Peiretti (@MartnPeiretti1) April 3, 2025
Throughout the affair, President Milei has maintained he did nothing wrong. He previously stated those involved in Libra participated at their own risk, comparing the investment to a casino bet. The legal challenges, however, persist beyond Argentina’s administrative findings.
The post Paraguay Presidency Hacked In BTC Scam! Argentina’s Milei CLEARED in Libra Token FIASCO? appeared first on ETHNews.
