$100 billion manipulation in the cryptocurrency market
... international news agencies announced to the world press that Walmart would accept Litecoin.
Photo: USA Today
Baku, Jale Akbar, İnteraz - 15 September 2021, 14:37
To date, there has been a rare manipulation in the cryptocurrency market. International agencies have received a bulletin in which Walmart has announced that it will accept Litecoin in its online stores from October 1. Litecoin price skyrocketed, but the press release turned out to be fake.
GlobalNewswire, the international press release delivery platform, has received a bulletin in which Walmart has announced that it will accept Litecoin in its online stores from October 1st.
According to NTV's report, when this bulletin was shared on the Litecoin Twitter account, international news agencies announced to the world press that Walmart would accept Litecoin.
However, after about 25 minutes, Walmart denied this news, and the tweet in question was deleted.
Walmart announced that they did not serve the press release that moved the markets.
At that time, Litecoin first went from $175 to $233 in 17 minutes, then fell back to $178.
With the effect of the news, most cryptocurrencies, especially bitcoin, first increased and then decreased.
During this fluctuation, the total market value of cryptocurrencies increased from 2 trillion 28 billion dollars to 2 trillion 124 billion dollars. Then it fell to 2 trillion 4 billion dollars. In other words, there was a fluctuation of 100-120 billion dollars in the market with the effect of this fake news.
In the following hours, the Litecoin Foundation also announced on Twitter that it did not cooperate with Walmart in any way.