A press release about Walmart Inc’s partnership with cryptocurrency litecoin is unauthentic, a company spokesperson confirmed on Monday.
The email to a contact provided in the statement remained ‘undeliverable’, while the message was not found on Walmart’s website.
A spokesperson for Walmart confirmed to CNBC and later, Reuters, that the press release was bogus.
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Litecoin did not immediately respond to Reuters’ request for comment.
The purported fake statement says Walmart will allow its customers to pay with litecoin at their online stores, sending the price of litecoin up 27.4%.
It quickly gave up most of those gains, and trading ended up up around 5%.
This is an evolving story. More information to come.