INSUBCONTINENT EXCLUSIVE:
Walmart shares opened higher on Monday, but were last trading down 0.8 per centWalmart Inc said on Monday that a news release announcing a
collaboration with litecoin, which quickly caused an almost 30 percent surge in the cryptocurrency's price, was phony
The seller stated it was checking out how such a statement, which was released by press release supplier GlobeNewswire, was issued earlier
Walmart had no understanding of journalism release provided by GlobeNewswire and there is no reality to it
Walmart has no relationship with litecoin, a company representative informed Reuters.Separately, the Litecoin Structure tweeted it has not
participated in a pact with the merchant
This was later on retweeted by the validated Twitter account of litecoin as well as by Charlie Lee, the creator of the cryptocurrency
After Walmart called it phony, GlobeNewswire published a notice to disregard the press release.However, it did not comment to an inquiry
by Reuters on the fake statement or the subsequent notification
The incorrect news release stated Walmart would permit its clients to make payments with litecoin at its online stores.An email previously
sent to a contact individual in the declaration stayed 'undeliverable.' Litecoin jumped about 30 per cent following the fake statement,
however they rapidly pared gains and were last up just about 3 per cent.Walmart shares opened higher on Monday, but were last trading down
Bitcoin costs also slipped after briefly turning positive following the scam announcement.Reuters and other news outlets had reported on the
Reuters withdrew its initial story.
