Grocery chain calls Bitcoin Cash partnership fraudulent


A visual representation of the digital Cryptocurrency, Bitcoin. (Photo by Dan Kitwood/Getty Images)

(ABC4) – A second U.S. retailer has been falsely connected to a partnership with a cryptocurrency.

In September, a fake press release was shared that announced a partnership with Walmart and cryptocurrency Litecoin. After several media outlets reported the partnership, Walmart denounced the claim and called the press release fake, ABC4 affiliate KRON reports.

The press release was shared out on GlobeNewswire, a site posting news and announcements from companies. Those who want to distribute press releases through the site must have an account. A Walmart spokesperson said they were working to determine how GlobeNewswire shared the fake news. Despite the false information, stock for Litecoin went up 20%.

In early November, the nation’s largest grocery chain became the latest victim of a similar incident.

Reuters reports a press release was shared Friday that said Kroger, the parent company for Smith’s Food and Drug, was going to begin accepting Bitcoin Cash at its store. The press release appeared on PR Newswire, a site similar to GlobeNewswire, and the company’s website. According to Reuters, Kroger’s investment page receives a direct feed from PR Newswire.

The press release site tells Reuters it pulled the fake release and launching an investigation. Bitcoin prices turned down slightly after Kroger released the below statement:

“This morning a press release was fraudulently issued claiming to be The Kroger Co. that falsely stated the organization will begin to accept Bitcoin Cash. This communication was fraudulent and is unfounded and should be disregarded.”

In November 2020, Kroger launched a partnership with Lolli, a rewards program that gives users the chance to earn Bitcoin while shopping with its partners. Lolli users can earn up to 1.5% Bitcoin back on grocery orders for pickup or delivery with Kroger stores.

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