Peru Economy Ministry’s X account hacked by crypto scammers promoting fake token

Peru’s Ministry of Economy and Finance, known locally as the Ministerio de Economía y Finanzas (MEF), confirmed on September 14 that its official X account was compromised by crypto scammers. The attackers used the government platform to promote a token called $HYLO, posting messages urging users to check for allocations ahead of a supposed September 25 launch date for claims and trading.

The ministry moved quickly to clarify that the posts were unauthorized, advising the public to disregard everything published during the breach. Security measures were activated to regain control of the account, and the fraudulent messages were subsequently deleted.

Government accounts as scam launchpads

The MEF hack fits a pattern that has become disturbingly familiar across Latin America and beyond. Government entities in Peru and other countries in the region have faced similar compromises in recent years, with bad actors exploiting the trust that official accounts command to push fraudulent crypto schemes.

In this case, the scammers’ playbook was straightforward. Multiple posts went up promoting $HYLO, complete with claims of token allocations specifically targeting Peruvians and a concrete date for when trading would begin.

The MEF has not disclosed how the attackers gained access to the account. No information about the identity of those responsible has been released, and the ministry has not reported any financial losses connected to the incident.

A growing pattern of X account vulnerabilities

Reports of cybersecurity weaknesses affecting official X accounts have surged in recent weeks, with some of the uptick linked to the rollout of X Money. Users have reported spikes in unsolicited password-reset requests, a classic precursor to account takeover attempts.

Whether the MEF hack is directly connected to these broader platform vulnerabilities remains unclear. Peru has been dealing with a broader rise in cyber fraud throughout 2026, and the country’s authorities have been sounding alarms about digital security for months.

What this means for crypto investors

For anyone who saw the $HYLO posts before they were taken down, the lesson is simple but worth repeating: no legitimate government is airdropping tokens to its citizens through social media posts. If a finance ministry’s X account suddenly starts promoting a cryptocurrency launch, the correct response is skepticism, not a wallet connection.

The September 25 launch date was a deliberate element of the scam. Urgency is one of the most effective tools in a scammer’s toolkit, because it short-circuits the critical thinking that might otherwise prevent someone from clicking a suspicious link.

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