Cash Friday Pr Newswire Krogercrawleycoindesk

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Bitcoin Cash Became Victim of Fake Press Release

Companies being targeted through a fake press release is not new. This fraud has caused losses worth billions, and in a recent incident, Bitcoin Cash became the latest target of a such fraudulent press release. Soon after the press release on Friday, the value of the Bitcoin cash rose sharply. The press release mentioned that the US supermarket chain Kroger would start accepting cryptocurrency as payments during the holiday season.

What is Cash Friday Pr Newswire Krogercrawleycoindesk ?

Right after the fake press release, there was a rise of 4.6% in the value of the cryptocurrency. The value rose from $602.63 to $630.70. Soon after, all the gains in the BCH were wiped off as it was nearing the price before the fraudulent press release came out. This fake news was issued on PR Newswire, and it also appeared on the website of Kroger. The notification claimed that Kroger would accept BCH for offline and online shopping from December 1 onwards.

Cash Friday Pr Newswire Krogercrawleycoindesk

Later in the day, Jamie Crawley from CoinDesk reached out to a spokesperson from Bitcoin Cash, and it was confirmed that the press release was fake. The press release was removed from the online platform and Kroger’s website. The spokesperson added that any such communication should be disregarded, and none of the details in the communication holds any validity.

Walmart was targeted in a similar fraud in September, where it was mentioned that the retail chain would start accepting litecoin for purchases. This press release also turned out to be a fake announcement. As of today, Bitcoin Cash is known to be the 21st largest cryptocurrency, and it was incepted in 2017 from a hard fork on Bitcoin Network. So Cash Friday Pr Newswire Krogercrawleycoindesk means Bitcoin Cash Briefly Spikes on Fraudulent Press Release .

The users need to be beware of such fake press releases, which can lead to a temporary surge in trade based on the market emotions. The best way is to check the official portals of the company and use the fact-checkers before arriving at a conclusion.