The fake press release was sent out by GlobalNewswire, according to CNBC. The release noted that Walmart was partnering with the cryptocurrency litecoin, which resulted in a 20% gain in the price of coin, before plummeting after the news was debunked.
The press release was never listed on Walmart’s official corporate website.
Speculation around Walmart’s entrance into cryptocurrency has been heightened lately after the world’s largest retailer posted a job listing for a digital currency and cryptocurrency lead back in August.
"Walmart had no knowledge of the press release issued by GlobeNewswire, and it is incorrect. Walmart has no relationship with Litecoin," Walmart said in a statement Monday.