On Monday, September 13, a press release was published by globenewswire.com and said it was connected to “Walmart Inc,” the American multinational retail corporation. Several mainstream media outlets published stories about it including Reuters, Bloomberg, and CNBC. Not too long after these reports were published, the press release saying Walmart and Litecoin partnered was verified as being “not authentic” by a Walmart spokesperson.
Fake Walmart and Litecoin News Exposes Pump and Dump Scheme
It appears that a phony Walmart press release has been published on Monday which said that the Walmart retail chain was partnering with the cryptocurrency project Litecoin. The press release featured Doug McMillon, the CEO of Walmart, and Charlie Lee the creator of Litecoin.
Yahoo Finance reported on the news in a video.
Furthermore, an official Litecoin Twitter account with a blue checkmark also tweeted about the press release. The release claimed Walmart partnered with Litecoin and would be accepting litecoin (LTC) for payments. However,