• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Bitcoin Cash spikes on fraudulent press release

4 years ago
in Cryptocurrency, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
40
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bitcoin Cash spikes on fraudulent press release

Bitcoin Cash (BCH), which was created as a by-product of a hardfork on the Bitcoin network, gained approximately 4.52% from $602.63 to $629.86 in less than 15 minutes after the publication of a fraudulent announcement.

Bitcoin Cash’s rally was short-lived after it became clear that a publication, claiming that U.S. supermarket giant Kroger would be accepting the cryptocurrency as payment this holiday season, turned out to be false news.

The fraudulent announcement was issued on PR Newswire and appeared on the Kroger website, which claimed that the grocery retailer would be accepting BCH for all in-store and online purchases from the first of December 2021.

What you should know

A company spokesperson confirmed to CoinDesk that the release was fraudulent. The release has thus been removed from the company’s website.

Read: COP26: The climate crisis is here: what it looks like in numbers

The spokesperson stated, “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.”

RelatedPosts

The 10 Fastest-Growing Trading Nations in Africa

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

This is not the first time a fake press release caused a rally in the price of a cryptocurrency. In September, there was a fake press release stating that Walmart would start to accept Litecoin as a means of payment on its platform. The release caused Litecoin to rally above $230 per token from the $170 range.

Kroger has previously been involved in the cryptocurrency space in 2020. The firm began to offer Bitcoin (BTC) rewards at its store through crypto-based rewards platform Lolli. Earlier this summer, crypto ATM firm Coin Cloud announced it was preparing to install machines in 29 H-E-B supermarket locations in Houston, Texas.

Source: nairametrics
Via: norvanreports
Tags: BitcoinBitcoin Cash spikes on fraudulent press release
No Result
View All Result

Highlights

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

Trending

Business

The 10 Fastest-Growing Trading Nations in Africa

August 23, 2025

The 10 Fastest-Growing Trading Nations in Africa Against the backdrop of shifting dynamics in global trade, several...

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.