FOREX NEWS

HOMEFOREX NEWS

14-09-2021 | Business

Walmart is not launching crypto payments with Litecoin, says it was 'subject of a fake news release'.

Following a fake news release put out by GlobeNewswire that referenced a partnership with Walmart, the cryptocurrency litecoin gave up a 20% gain and fell back to earth.

Randy Hargrove, a spokesman for Walmart, verified that the news release is fake. He also stated that the business has contacted the newswire company to inquire about how the bogus press release was distributed.

Intrado, a telecommunications corporation, owns GlobeNewswire. At 11:18 a.m. EST, it issued a “notice to disregard” the initial release.

The announcement was reported by a number of media sources, including CNBC. Walmart's stock hasn't moved much in the last few days. According to Coin Metrics, Litecoin was down roughly 2.2 percent at the time of writing.

The release was made using a fraudulent user account, according to GlobeNewswire.

“This has never happened before, and we have already enhanced authentication measures to prevent this rare occurrence from happening again,” stated a representative. “We will work with the appropriate authorities to request – and support – a thorough investigation into this occurrence, including any criminal activity.” 

At 9:50 a.m. ET, Litecoin issued a news release via its official account. One of Litecoin's social media team employees "was a little too excited and tweeted the storey from the Litecoin Twitter account" in response to the numerous media outlets that covered it, the Litecoin Foundation said in a statement Monday afternoon. “We quickly remedied the situation, and we've taken efforts  to prevent future problems.”

The Securities and Exchange Commission has stated that it will not comment on such problems.

The news release said that, Walmart, the country's largest retailer, will accept cryptocurrency payments from litecoin users. It mentioned a broken website in the email of one of the listed contacts, which raised suspicions.

The media release was never published on Walmart's official corporate website and has since been taken down from GlobeNewswire.

Leave a Comment :


CANCEL
  • We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders. We're also a community of traders that support each other on our daily trading journey.

OTHER LINKS

LEARN FOREX TRADING

CORPORATE ADDRESS

  • 8210 Desoto Dr, West Chester, OH - 45069, USA
  • (513) 968-7209
  • support@drforexofficial.com
Trustpilot

Trading CFDs on leverage involves significant risk of loss to your capital.

Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. DrForexOfficial, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Read our full legal disclaimer.

© 2022 All Right Reserved. DrForexOfficial

We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.