The Litecoin cryptocurrency noticed its value spike by as a lot as 20 p.c on Monday after a pretend press launch claimed Walmart would start accepting Litecoin as cost.
The press release posted to GlobeNewswire linked to a non-functioning web site, and there was no proof of any Securities and Trade Fee submitting, which might have been anticipated since Walmart is publicly traded. Walmart’s official newsroom by no means included the discharge, and the corporate usually makes use of Business Wire to distribute releases.
A number of information retailers printed studies based mostly on the hoax press launch, and a short while later Litecoin’s price jumped, together with these of different cryptocurrencies, earlier than rapidly falling again to the earlier ranges.
It’s not but clear who might have been behind the hoax press launch, however a Walmart spokesperson confirmed to CNBC that the information announcement was pretend. GlobeNewswire and Walmart didn’t instantly reply to requests for remark from The Verge on Monday.