Litecoin Pumps and Dumps on Fake Walmart News

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news outlets such as CNBC, Reuters, and Bloomberg which originally reported it as a real story. In a later correction, CNBC wrote that a Walmart spokesperson has “confirmed the press release is not authentic.”

The source of the fake press release remains unknown. 

The price of litecoin jumped from USD 174 to USD 237 on Coinbase immediately following the news, before later giving back almost all the gains. At 14:40 UTC, LTC was still up about 4% from before the pump started, trading at USD 181.60.

LTC price chart:

Source: coinmarketcap.com

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