What’s Stopping the Next Walmart Litecoin Pump-and-Dump Scheme?

Major financial news organizations including CNBC, Bloomberg News and Reuters published headlines on the alleged Walmart-Litecoin partnership within minutes of the fraudulent press release hitting the wires. This is a black eye for the media and a lesson for everyone to be more vigilant when it comes to digital currencies. In hindsight, there were some obvious giveaways in the press release. Litecoin would be an odd choice for a major retailer, for starters. Created in 2011, it lacks the liquidity and technical foundations of some of its better-known peers. According to CoinMarketCap, Litecoin has only $12 billion worth of coins in circulation, making it the 15th-largest cryptocurrency. For comparison, market-leader Bitcoin has about $800 billion in total market value. 

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