Bitcoin Cash Shortly Spiked After Fraudulent Press Release Emerges

Bitcoin Cash shortly spiked after a new fraudulent press release emerged, making the BCH coin rise over 4.6% from $602 to $630 in less than 15 minutes. Let’s find out more in our latest Bitcoin Cash news.

Bitcoin Cash shortly spiked in value after the publication of a fraudulent press release claiming that the US supermarket Kroger will start accepting the cryptocurrency as a payment for the holiday season. The cryptocurrency increased by over 4.6% less than 15 minutes later following a fraudulent announcement publication. BCH gave back all of its gains to fall below the price that it had been before the announcement. At the time of writing, it was priced at $601.74.

The fraudulent announcement that was issued on PR Newswire appearing on the Kroger website, claimed that the grocery retailer will start accepting BCH for its in-store as well as online purchases starting from December 1^st. A company spokesperson confirmed that the release was fake and at press time, the release was removed from the company’s site:

“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.”

The fraud is similar to the one in September that claimed that Walmart will start to accept litecoin. Bitcoin Cash as the 21^st biggest crypto by market cap was created out of a hard fork on the BTC network in 2017. As recently reported, Voluntarism.dev is a Bitcoin Cash anonymous group that just launched a 51% attack on the Bitcoin Cash ABC network. Invoking a non-aggression principle to justify the attack, the group protested the hard fork of the BCH and the 8% miner tax controversy. The attack modified the code so that it will tax the miners 100% instead of 8% rendering the mining efforts worthless. A group is a self-described group of “old-guard miners and whales” which launched a 51% attack on Bitcoin Cash ABC in protest of the latest hard fork on November 15 last year.

The anonymous group modified the “coinbase rule” so that the mining BCH sends 100% of the block rewards to the addresses associated with the new infrastructure funding plan rather than the controversial IFP tax of 8% which led to the hard-fork and will render mining worthless for the miners.

Source: https://www.dcforecasts.com/bitcoin-cash-news/bitcoin-cash-shortly-spiked-after-fraudulent-press-release-emerges/