No financial market wants scammers breaching the walls. But now is a particularly bad time for cryptocurrencies to be showing vulnerability to mischief.
A significant spike in Litecoin followed quickly-debunked headlines that Walmart Inc., the world’s largest retailer, had agreed to accept the cryptocurrency as a payment mechanism at its stores. Litecoin’s own verified Twitter account posted a link to the press release in a tweet that was later deleted. Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation, described the tweet and press release as an “unfortunate situation” in an interview with Bloomberg News.