Litecoin creator Charlie Lee told The Wall Street Journal that the Litecoin Foundation’s social media manager had thought that the news about Walmart accepting the altcoin was real:
It was wrong to retweet it. We deleted it quickly afterwards. But the damage is done.
The non-profit organization has also clarified that it hasn’t entered into a partnership with Walmart.
The Litecoin Foundation has not entered into a partnership with Walmart.
— Litecoin Foundation (@LTCFoundation) September 13, 2021Advertisement
This is in line with a statement that was issued by a spokesperson of the retail giant earlier today.
As reported by U.Today, a doctored press release on GlobeNewswire, which was written up by Reuters and CNBC, made the Litecoin price jump nearly 30 percent in no time.
Lee doesn’t know who’s behind the hoax.
The “silver to Bitcoin’s gold” made a full retrace after it came to light that the press release was fake.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.