The sharp rise and collapse of the Litecoin cryptocurrency occurred due to the fact that the PR manager believed the fake press release. The founder of Litecoin and Managing Director of the Litecoin Foundation, Lee, spoke about this.

On September 13, information appeared that the world’s largest wholesale and retail network will begin to accept Litecoin for payment, which is considered as a competitor to the most popular cryptocurrency bitcoin. The news was first published on the corporate press release site GlobeNewswire, then it was posted on Twitter by the Litecoin Foundation, a fund dedicated to the development of Litecoin. Charlie Lee said that the company’s account was not hacked – the company’s public relations manager did not verify the authenticity of the information and published the message by himself.