HomeCryptoWalmart Clarifies False report, Not Accepting any Litecoin for Payment

Walmart Clarifies False report, Not Accepting any Litecoin for Payment

Retailer Walmart issued a press launch on Monday, September 13, to make clear a false report about its earlier announcement of a partnership with Litecoin (LTC), stating that the corporate has no relationship with Litecoin.

The clarification was launched on the identical day after a pretend press launch issued by GlobeNewswire. This false press launch indicated that Walmart would settle for buyers to make use of Litecoin as a technique of fee. Other well-known media organizations have additionally reported this information. After Walmart’s official verification, these media firms all corrected well timed.

In the earlier pretend press launch mentioning the partnership with Wal-Mart, Litecoin shortly rose by 20%. After the information was corrected, Litecoin withdrew from the rise. At the time of writing, Litecoin was buying and selling at $177.28 with a slight improve in 24 hours, in accordance with Coinmarketcap.

Yet, Walmart’s inventory worth didn’t fluctuate sharply due to this incident.

Walmart spokesperson Randy Hargrove stated the press launch was unfaithful. It additionally talked about that Walmart’s group actively contacted the information line firm to research how the pretend press launch was issued.

GlobeNewswire media company acknowledged that the false information was launched from a fraudulent consumer account. A spokesperson representing GlobeNewswire responded to the incident:

“This has never happened before and we have already put in place enhanced authentication steps to prevent this isolated incident from occurring in the future. We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.”

At 9:50 am Eastern Time, Litecoin issued a press launch on its official Twitter account stating that Charlie Lee, the managing director of the Litecoin Foundation, would reply to this incident.

Image supply: Shutterstock



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