Beautiful Virgin Islands

Saturday, Jul 26, 2025

Litecoin Creator on Fake Walmart News: “This Time, We Really Screwed Up”

Litecoin Creator on Fake Walmart News: “This Time, We Really Screwed Up”

Litecoin creator Charlie Lee (AKA Satoshi Lee) appeared on Bloomberg TV to discuss a fake press release that appeared this morning.

A fake news release suggesting that Walmart had plans to accept Litecoin as payment was sent out by GlobeNewswire. It quickly circulated among various news outlets including Reuters and CNBC.

During an interview this afternoon, Litecoin creator Charlie Lee said that he was initially taken in by the fake news. Lee told Bloomberg reporter Emily Chang:

“I was like, wow, that’s awesome…and it turned out to be fake.”

In the same interview he explained that GlobeNewswire is working with authorities to investigate the incident and who submitted the false report. GlobeNewswire also intends to implement stronger authentication for those who submit press releases in the future.

According to Lee his project has little role to play in the investigation. “In terms of us as the Litecoin Foundation, there’s not much we can do,” he said, adding that fake news is often spread, both in the crypto industry and the world of traditional stock trading.

No benefit for Litecoin Foundation
According to Lee, the fake news did not come from an individual involved in the Litecoin Foundation.

“It’s definitely not anyone on our end…so I’m going to deny it.”

He also said that Litecoin Foundation did not benefit from the price surge that followed the press release. Lee revealed that he only holds about 20 LTC ($3500) personally.

“This means I have no incentive to do something like this.”

Litecoin is a decentralized project, meaning that anyone may have had the motive to submit fake news, he pointed out.

However, Lee took responsibility for Litecoin’s social media accounts, one of which accidentally shared the news today. He said that the Litecoin Foundation has better understanding now how influential its Twitter account is, and that it will better verify news going forward.

“I mean, we try very hard not to tweet fake news, and this time we really screwed up…we will try harder.”

Source: Litecoin Creator on Fake Walmart News: “This Time, We Really Screwed Up” – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×