Fake Walmart News Release Spurs Spike in Little-Used Cryptocurrency Litecoin

Walmart Says Litecoin Partnership News Release is Fake

The price of Litecoin, a little-used cryptocurrency, fell back in early trading Monday after a news release about a partnership with giant retailer Walmart Inc turned out to be fake.

Litecoin traded at $231, up 30%, after a release via Globe Newswire at 9:30 a.m. ET. The cryptocurrency fell quickly after Walmart called the news release fraudulent.

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