Wal-Mart says Litecoin partnership news release is fake

The news release, published Monday morning, was allegedly from Wal-Mart and was tweeted by Litecoin’s official Twitter account.


Brendan MacDermid / Reuters

Walmart Ltd

WMT -0.31%

He said the news release announcing the alleged partnership with Litecoin was a fraud.

A news release issued Monday morning claimed to be from Wal-Mart, and retail giants claimed to allow customers to pay in cryptocurrencies.The release was sent to the news release distribution service and tweeted by the Litecoin official



“The press release isn’t real,” a Wal-Mart spokeswoman said. She said Wal-Mart is not currently accepting cryptocurrencies as payments in the United States.

Litecoin Foundation personnel did not immediately respond to requests for comment.

The price of Litecoin, one of several cryptocurrencies, surged temporarily when a fake news release and associated headlines crossed a news wire, including the Dow Jones news service. Litecoin prices fell about 20% after Wal-Mart said the release was fake.

El Salvador became the first country in the world to use Bitcoin as its home currency, allowing people to use their digital wallets to pay for their daily necessities. A dangerous experiment in a poor country looks like this: Photo: Marvin Recinos / Agence France-Presse / Getty Images

Write to Sarana Sauer

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Wal-Mart says Litecoin partnership news release is fake

Source link Wal-Mart says Litecoin partnership news release is fake

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