Walmart Confirms Litecoin Partnership Is Fake

[decodx]

Why would they choose litecoin over bitcoin anyway?

Perhaps because Litecoin has a lower transaction fees and faster confirmations? Also, Litecoin is the oldest cryptocurrency for which there is an active community as far as I know.

[1713576421]

1713576421

[bhooscream]

Creating fake news to pump the price of a certain coin, isn't something new in crypto market. This fake news about Litecoin Partnership is only one of the examples of various fake news created by some people to take profits instantly. Because lately tweeter becomes a trending place for crypto news after it was used by Elon Musk to boost Doge price, some people have an idea to create fake news through some tweets on Twitter. I am not surprised to know this, many crypto users keep their eyes on Twitter now. Anyway, we must appreciate that Litecoin Foundation has made a clarification to let people know the fact.

[Kena Banned]

i thought it was genuine but seeing walmart as the biggest retailer in america if want to make payments via crypto i think i would choose btc as the main one. however since this news is fake it seems that some parties are using it to take short advantage.

Agreed, with the huge cashflow on the Walmart, choosing BTC with its Lightning Network seems more reasonable than suddenly using LTC. Of course some people would take that opportunity to gains profit after realizing that something wrong on the news.

[Yamifoud]

Obviously fake.  Can't believe litecoin actually pumped over that.  All ypu had to do was look for a Walmart announcememt and there was none. Crappy part is some people lost some sizable money on that fake news pump.  If it sounds too good to be true it probably is.  Why would they choose litecoin over bitcoin anyway?

Walmart, Amazon, and I expect more known companies to be used for personal interest and to scam people. It was too sad that many people just trust news like this but neglected to visit the official site for the said announcement. Nowadays, it was easy for the scammers and create such unreliable sources of information to get some attention and use that tool for their evil plan.

[kawetsriyanto]

As usual, rumor is raised to pump a coin and this moment is utilized by certain parties to get profits.
And once they have, the rumor will be broken by the person concerned, in this case, Walmart.
I feel sorry for the coin buyers who are trapped in a pump and dump flow like this, especially when they buy when the price is high.
But moments like this will never end. There will be other rumors that will be raised, associated with other world-class high-ranking companies, the world's top institutions, as well as certain countries.
And because of this, we should not easily believe in rumors. only, if we can take advantage of the rumor at the right moment, we can benefit, but not for the long term if it's still just a rumor.

[vv181]

Exactly, it's kinda like a PnD scheme, isn't it?

We couldn't be sure about this. But I think Litecoin developers are not directly involved in this if this was indeed a planned pump and dump scheme. Litecoin is unlike many shitcoins that are just pump and dump coins. Litecoin is certainly more than that.

Although it was a mistake on the part of Litecoin to just publish what is clearly an unverified report taken from Reuters, they showed that they haven't the slightest of intention of misleading the public with that fake news.

Yea, there is no concrete proof. Nevertheless, as a matter of fact, the fake domain that GlobeNewswire cited is a month old, it shows there are intentions about this, it might be a planned action. There must be some mastermind behind all of this.

We had to give the benefit of the doubt to the Litecoin Foundation, the Foundation also already denies it. As you say, we can't know for sure about this since all of eyes are going to GlobeNewswire, the one who started the news.

[decodx]

We had to give the benefit of the doubt to the Litecoin Foundation, the Foundation also already denies it. As you say, we can't know for sure about this since all of eyes are going to GlobeNewswire, the one who started the news.

I don't think the Litecoin Foundation had anything to do with this. If they wanted to do a pump and dump or rug pull, they wouldn't have waited until now; they have had plenty of opportunities to do so in the past. According to GlobeNewswire, they plan to request and facilitate a full investigation with the appropriate authorities, which should hopefully lead to the discovery of the perpetrator.

"When GlobeNewswire became aware this morning that a fraudulent user account was used to issue an illegitimate press release we promptly withdrew the press release and issued a Notice to Disregard. This has never happened before and we have already put in place enhanced authentication steps to prevent this isolated incident from occurring in the future. We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter," the company said in a statement provided to FOX Business.
https://www.foxbusiness.com/markets/globenewswire-walmart-litecoin-fake-fraudulent-user-account

[v3liana]

Walmart attorneys need to be all over this… someone falsely and intentionally represented the company and what makes this even worse is that it fooled so many news outlets which in turn leads to many more people getting fucked over.

I hope they move forward and clear the smoke up on who is up to this bs.