Skip to content

Litecoin plummets 20% after Walmart says crypto announcement is fake

Litecoin plummets 20% after Walmart says crypto announcement is fake

A false news release put out by GlobeNewswire about a collaboration with Walmart caused cryptocurrency Litecoin (LTC) to lose 20% of its value on Monday 13 September 2021.

No such press release exists, according to a Walmart representative who verified the information is false. Litecoin had spiked up to $231 from $175 before falling 20% on the fake news release, according to

Litecoin 1 day chart.

Many reputable media outlets, including CNBC and Reuters, published headlines on the announcement. 

What raised suspicions was that the announcement included a non-functioning website in the email of one of the named contacts listed.

According to the fake press release, Walmart, the largest retailer in the United States, would accept cryptocurrency payments from customers using Litecoin. Although, Walmart’s official corporate website didn’t mention the release at any point in time.


Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.