Make Kitco Your Homepage

Press release on Walmart's litecoin partnership is fake - CNBC

Kitco News

(Reuters) -A press release on Walmart Inc's partnership with cryptocurrency litecoin was not authentic, a company spokesperson confirmed cnb.cx/3tBP8vG to CNBC on Monday.

An email to a contact person given in the statement remained "undeliverable", while the announcement was not found on Walmart"s website.

The retailer and litecoin did not immediately respond to Reuters requests for comment.

The purportedly fake statement said Walmart would allow its customers to make payments with litecoin at its online stores sent litecoin prices up as much as 27.4%. It quickly gave up most of those gains and was last trading up about 5%.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.