Litecoin hoax highlights crypto market vulnerable to scams: ‘Walmart has no relationship with litecoin,’ says big box retailer

Fake news appeared to give holders of virtual currencies very real agita on Monday, as a hoax news release sent litecoin briefly soaring before crumbling back down to Earth.

iframe.twitter-tweet { width: 100% !important; } Litecoin is the No. 19 most valued crypto in world, but hasn’t drawn a lot of attention recently as a form of digital payment that could be used by major retailers. On Monday, Walmart said that it had “no knowledge of the press release issued by Globe Newswire,” and emphasized that “it has no relationship with Litecoin.”

In addition, the Litcoin Foundation, founded by the creator of litecoin Charlie Lee, issued this statement via Twitter: The moves in crypto came as traditional assets also were under pressure, with the Dow Jones Industrial Average DJIA, +0.65%, the S&P 500 index SPX, +0.12% and the Nasdaq Composite COMP, -0.13% indexes struggling to snap a streak of declines.

“Unfortunately, today’s stunt will deter those skeptical about cryptocurrency and contribute to the narrative surrounding volatility and instability,” Wu wrote. “Thankfully, this will only set us back weeks or months, not years,” the crypto specialist said.

What is taking so long for the SEC to regulate the crypto industry like any financial instrument?

nobody’s fault but your own if you don’t DYOR. maybe don’t be so gullible.

Media hoax. Media problem.

Lmao yeh and Workhorse has partnership with USPS and Tesla has full self driving. I’m sure only crypto market is vulnerable to scams.

“Litecoin hoax highlights market news outlets can’t do basic research and are obsolete” FTFY

People are stupid and just read headlines … and no didn’t read ur article … how’s a hoax indicat vulnerability gtfo

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