La Paz, Bolivia - Bolivian President Luis Arce on Thursday rejected accusations of being behind the failed military coup that made headlines around the world.

The coup authors had acted on their own, Arce said, in his first press conference following the putsch attempt.

"I am not a politician who wants to gain popularity through the blood of the people," Arce said.

On Wednesday, the Bolivian military occupied the square in front of the government palace in La Paz with armored vehicles and tried to breach its doors.

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A heated verbal exchange then ensued in the corridors of the building between coup leader General Juan José Zúñiga, who was flanked by heavily armed soldiers, and Arce.

In the end, Arce had the coup plotters arrested, appointed new military leaders, and ordered the withdrawal of troops from around the government palace.

Seventeen members of the Bolivian army have been arrested, including Zúñiga and Vice-Admiral Juan Arnez Salvador, the government said on Thursday.

As the alleged main perpetrators of the attempted coup, the two men are accused of armed insurrection against the security and sovereignty of the country. They could face up to 30 years in prison.

"We will stop this anti-democratic network, we will not rest until all those responsible are brought to justice. It's time to get the coup plotters off the streets and put them behind bars," Interior Minister Eduardo del Castillo told a press conference.

Ahead of his arrest, Zúñiga had claimed that "the president told me that the situation is looking very bad."

Zúñiga said that Arce had told him that it was "necessary to prepare something to increase his popularity" and that he should "bring out the armored vehicles."

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The vice president of Arce's own MAS party – riven by a factional dispute in which ex-president Evo Morales is also involved – raised questions about his involvement.

The government rejected the allegations. "Zúñiga's aim was to take power in the country against the will of the people," said del Castillo.

The circumstances of the attempted coup were being investigated.

Various groups were allegedly responsible for its preparation, organization, and coordination, del Castillo said. Three other reservists suspected to have been involved are still at large, according to the minister.