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:
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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.
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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.
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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.
Tomiwabold Olajide
Caroline Amosun