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Bitcoin Cash pumps and dumps on fraudulent Kroger press release -Breaking

by Mike Robinson

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By Samuel Indyk

Investing.com – jumped over 6% on Friday morning before dropping back to unchanged on the day after a press release posted on the Kroger (NYSE:) website saying that the grocer would begin accepting the cryptocurrency turned out to be fraudulent.

Press Release

The press release – which remained on the Kroger inveStor relations page for at least 25 minutes – stated that the supermarket would begin accepting Cash starting 1stFor all purchases in-store or online, December This release was also available on the PR Newswire website.

Dominic Chu, a CNBC host, confirmed that the story was false.

“CNBC has confirmed with Kroger that the Bitcoin Cash story is fraudulent,” Chu wrote on Twitter (NYSE:).

Walmart/Litecoin

GlobeNewswire recently reported that Walmart Inc. (NYSE:) will accept orders on its ecommerce website. This fake press release echos another recent story. Similar to that of the fake news release, Litecoin rose by more than 20% and then lost its gains after it was discovered that the story was false.

This time, the fraudsters went one step further and managed to get the press release onto Kroger’s investor relations page, making the story appear authentic. Details on how they managed to publish a fake press release on the supermarket’s official website are unclear.

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