Litecoin surged higher before falling back on a fake press release that Walmart is to allow shoppers to make payments with the cryptocurrency
- Walmart intends to allow shoppers to make payments with Litecoin (Update: This was one of the all-time great cons)
- Is the Walmart release about Litecoin fake? Yes it is
- Litecoin creator attributes tweeting about Walmart deal to 'over-excitedness'
The fact that it came through such a big source (globalnewswire) made it "believable" at first glance and got the market excited. But just as it was quickly tweeted, it was also rather quickly debunked and that sent Litecoin back down to earth in the aftermath.
A bigger mistake was on the part of Litecoin in tweeting further about the deal, as though confirming it - which turns out to not be the case.
Here is how Litecoin is doing now after the major fiasco:
