Walmart will not begin accepting cryptocurrency despite a press release that many assumed was real.
Numerous news outlets picked up the false announcement Monday and promptly sent Litecoin’s stock higher.
A Litecoin employee posted about the false claim that the currency had a partnership on its Twitter account.
Charlie Lee, the creator of Litecoin said that an employee mistookly tweeted about the announcement after viewing the fake release.
A Walmart spokesperson also confirmed to The Associated Press there is no partnership between the retailer in Litecoin.
The fake news release was not confirmed by Walmart.
CNN reports Litecoin’s prices went up from $220 after the fake news release was published to $178 when Walmart declared it was a hoax.