Walmart says announced 'partnership' with crypto litecoin was a hoax

Sept. 13 (UPI) -- Big box retailer Walmart said Monday that an authentic-looking press release that made waves among investors just hours earlier -- announcing a partnership with cryptocurrency litecoin -- was a hoax.

The announcement, published by GlobeNewswire, was posted Monday morning and gave litecoin an immediate 20% boost in value.

The announcement said Walmart shoppers could use litecoin, a competitor to bitcoin, to buy items from the retailer.

"The e-commerce giant intends to give its millions of shoppers across the world an opportunity to seamlessly make payments with cryptocurrencies," the bogus news release said.

Later, Walmart said the announcement was not authentic.

A number of news outlets reported the phony partnership before it was exposed as a hoax.

Litecoin was introduced nearly a decade ago. Last month, one litecoin was worth about $180.

It wasn't immediately clear who posted the press release via GlobeNewswire.