On Monday, September 13th, globenewswire.com released a press release stating that it was affiliated with Walmart Inc, the American multinational retail company. Several mainstream media outlets posted stories about it, including Reuters, Bloomberg, and CNBC. Not long after these reports were published, the press release was verified as “not authentic” by a Walmart spokesperson.
Fake Walmart and Litecoin news reveal pump-and-dump program
It appears that a fake Walmart press release was released on Monday saying that the Walmart retail chain has partnered with the Litecoin cryptocurrency project. The press release featured Doug McMillon, CEO of Walmart, and Charlie Lee, creator of Litecoin.
In addition, is a official Litecoin Twitter account also tweeted about the press release with a blue check mark. The publication claimed that Walmart has partnered with Litecoin and would accept Litecoin (LTC) for payments. Not too long after that, though Globenewswire.com press release has been released, the story was suspected of being fake.
A number of cryptocurrency influencers tweeted found out that it was “fake”. A person discovered that the name “WALMART-CORP.COM”, the e-mail used in the globenewswire.com press release, has not reached an official website. The name “WALMART-CORP.COM” was also registered last month.
The news never appeared in Walmart’s official online newsroom, and the account that registered “Walmart Inc” was never published prior to this event. A Walmart spokesperson Confirmed told CNBC that the press release released on Monday was “not authentic”.
A Walmart spokesperson speaking to Bloomberg said the “Litecoin statement was not authentic”. The official one Litecoin Twitter account the tweeted the news has since deleted the tweet. The archive.org website shows that no one was able to save the tweet, but there are many screenshots of the tweet.
* LITECOIN VERIFIED ACCOUNT DELETES TWEET ON WALMART PACT
– Zerohedge (@zerohedge) September 13, 2021
Litecoin (LTC) rose 28.9% in 24 hours after the fake news went viral, but since the report was confirmed as fake LTC prices, all of those gains have been erased. LTC is now a few percent lower.
What do you think of the fake news that Walmart and Litecoin have partnered? Let us know what you think on this matter in the comments below.
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