HomeCoinsLitecoin (LTC)Walmart Investigates How Fake Press Release of Its Partnership With Litecoin Got...

Walmart Investigates How Fake Press Release of Its Partnership With Litecoin Got Posted – Featured Bitcoin News

- Advertisement -

Following the fake news of its partnership with Litecoin, Walmart Inc. says it is looking into how the fraudulent press release was issued. The Litecoin Foundation and Charlie Lee are also investigating the matter. In addition, Globenewswire says it will also work with authorities “to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.”

Walmart Responds to Fake News of Its Partnership With Litecoin

The retail giant issued a press release in response to the fake news of its partnership with Litecoin Monday. “Walmart was the subject of a fake news release issued on Monday, Sept. 13, that falsely stated Walmart announced a partnership with Litecoin (LTC),” the company wrote, adding:

Walmart had no knowledge of the press release issued by Globenewswire, and it is incorrect. Walmart has no relationship with Litecoin.

Walmart spokesman Randy Hargrove told CNBC that the retailer has been in touch with the newswire company to investigate how the false press release got posted.

Globenewswire took down the fake press release late Monday and issued a “notice to disregard” across its service. The company also said that it has put in place enhanced authentication steps to prevent a similar incident from occurring in the future.

The press release distribution company declared:

We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.

Many major news outlets ran the fake story, including Reuters and CNBC. This led to an instant spike in the price of litecoin (LTC). However, the gains were quickly wiped out when Walmart denied the news.

Meanwhile, the Litecoin Foundation, a non-profit organization that promotes the cryptocurrency, issued a statement on the matter. The foundation is run by litecoin creator Charlie Lee, who serves as its managing director.

“We have no information as to where this idea or the release to the press originated,” the foundation wrote, confirming that it “has not entered into a partnership with Walmart of any kind.” It further noted that the quotes in the press release did not come from Lee.

1631644409 557 Walmart Investigates How Fake Press Release of Its Partnership With

Lee told Reuters in an email that the hoax was being investigated but little headway had been made. The Litecoin creator added that he currently owned only five LTC and had little incentive to issue the fake announcement himself.

He also commented on Litecoin’s verified Twitter handle (@litecoin) sharing the fake announcement. The tweet was deleted a few hours after Walmart denied the news. Lee admitted:

It was our mistake for retweeting using @litecoin. We will make sure to have stricter controls on our social media accounts so that something like this doesn’t happen again.

Who do you think is behind this fake Walmart-Litecoin partnership news? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,506FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 61,768.00
ethereum
Ethereum (ETH) $ 4,054.58
tether
Tether (USDT) $ 1.01
bitcoin-cash
Bitcoin Cash (BCH) $ 626.69
litecoin
Litecoin (LTC) $ 197.67
eos
EOS (EOS) $ 4.74
okb
OKB (OKB) $ 27.56
tezos
Tezos (XTZ) $ 6.78
leo-token
LEO Token (LEO) $ 3.43
cardano
Cardano (ADA) $ 2.17
monero
Monero (XMR) $ 267.99
stellar
Stellar (XLM) $ 0.376438
chainlink
Chainlink (LINK) $ 30.80
huobi-token
Huobi Token (HT) $ 10.14
tron
TRON (TRX) $ 0.100682
usd-coin
USD Coin (USDC) $ 1.01
dash
Dash (DASH) $ 197.40
neo
NEO (NEO) $ 44.56
iota
IOTA (MIOTA) $ 1.32
nem
NEM (XEM) $ 0.176754
zcash
Zcash (ZEC) $ 171.98
maker
Maker (MKR) $ 2,545.44
paxos-standard
Pax Dollar (USDP) $ 1.01
ethereum-classic
Ethereum Classic (ETC) $ 55.24
vechain
VeChain (VET) $ 0.137615
true-usd
TrueUSD (TUSD) $ 1.01
ftx-token
FTX Token (FTT) $ 63.28
kucoin-shares
KuCoin Token (KCS) $ 14.89
waves
Waves (WAVES) $ 28.54