Wednesday, September 22, 2021
 
Columnist
Martin Hennecke

Walmart hits cryptocoin link
 
15/09/2021
 
<p>Walmart is looking into how a fake press statement announcing a partnership with Litecoin, which briefly led to near 30 percent gains in the cryptocurrency, was issued by news release distributor GlobeNewswire.</p><p>The fake press release touting the acceptance of Litecoin as online payment by the world&#39;s largest retailer led to a sudden spike in its prices, but the gains faded quickly after Walmart said it was fraudulent.</p><p>&quot;Walmart had no knowledge of the press release issued by GlobeNewswire and there is no truth to it. Walmart has no relationship with Litecoin,&quot; a company official said.</p><p>GlobeNewswire published a notice to &quot;disregard&quot; the news release and said it had put in place enhanced authentication steps to prevent a similar incident from recurring.</p><p>&quot;We will work with the appropriate authorities to request - and facilitate - a full investigation, including into any criminal activity associated with this matter,&quot; it said.</p><p>Separately, the Litecoin Foundation said in a Twitter post it had no information on where the news release had originated.</p><p>The foundation is a non-profit organization that promotes cryptocurrency and is run by Litecoin creator Charlie Lee, who said in an e-mail that the hoax was being investigated but little headway had been made.</p>

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