Largest US retail chain Walmart has denied media reports on the 13th that it will partner with cryptocurrency Litecoin to introduce it in its payments system.
News outlets such as CNBC, Reuters, and Bloomberg reported on the 13th that the announcement of the now false partnership was made on press release platform Globe Newswire.
However, Walmart later released a statement on its official website denying any partnership with the popular cryptocurrency. The company statement read:
“Walmart was the subject of a fake news release issued on Monday, Sept. 13, that falsely stated Walmart announced a partnership with Litecoin (LTC). Walmart had no knowledge of the press release issued by GlobeNewswire, and it is incorrect. Walmart has no relationship with Litecoin.”
It was pointed out that GlobeNewswire’s alliance statement was forged by a third party and was not posted on Wal-Mart’s official page. The fake domain name was generated and registered in August that spread the false information.
Litecoin (LTC) surged temporarily following the first press but fell sharply after Walmart denied the partnership.