Earlier today, some fake crypto news came out from GlobalNewsWire which announced Walmart to accept Litecoin. Immediately, the crypto pumped by over 20% and looked like it was going to run strong… right up until the point that it was announced that the news wasn’t true, and LTC immediately gave up the morning’s gains.
The press release said that Walmart, the biggest retailer in the United States, would being to accept Litecoin for payments from shoppers and even purported to quote CEO Doug McMillon.
“By integrating Litecoin, we will enable shoppers to experience a very smooth checkout experience with near-instant transaction confirmation… “Starting October 1st, all eCommerce stores will have implemented a ‘Pay with Litecoin Option.'”Fake News, quoting CEO Doug McMillon. This quote is not confirmed.
The story which told us that Walmart to accept Litecoin in the not too distant future appeared on pretty much all the crypto news sites, but also many mainstream media sites (including CNBC) this morning, but a Walmark spokesperson confirmed the press release was not authentic, and definitely not issued by the retailer.
The announcement reference a non-working website in the email of one of the listed contacts, William White, which sparked suspicions, and ultimately led to the company releasing a statement saying it wasn’t true. The domain in the listed email was walmart-corp.com, but this website does not exist, and it appears to have nothing to do with Walmart whatsoever.
This kind of Fake news can be devastating to investors, especially those who piled in to buy the token as it was moving northwards.
Who broke the story saying Walmart to accept litecoin?
At this point in time, it’s not clear where this story came from, or who authored it, but it appears to have been first released on PR site GlobalNewsWire. The original text was as follows:
This story is still developing, and we will update as we get more information, but for now, it’s fair to say that it’s NOT TRUE that Walmart to accept Litecoin, certainly any time soon.