Walmart will not start accepting cryptocurrency despite a press release that many believed to be genuine.
The fake announcement was picked up by many news agencies on Monday and sent Litecoin’s stock soaring.
A Litecoin employee falsely claimed a partnership with the currency’s account on Twitter.
Charlie Lee, the creator of Litecoin said that an employee accidentally tweeted about this announcement after reading the fake release.
A Walmart spokesperson also confirmed: The Associated Press there is no partnership between the retailer in Litecoin.
The source of the fake news story is unclear.
CNN reports Litecoin’s market price dropped from $220 to $178 following the release of the fake news story. Walmart has since clarified that this was a hoax.