The subject of controversy is not Walmart’s recent announcement that it would be partnering with IBM and their producers to achieve an efficient and transparent supply chain, it is that the supposed Ethereum Walmart Token, which has long been denied by Walmart, appears to be nothing but a nicely orchestrated piece of fraud.
The Walmart Token “Scam”
What looked like a Walmart token scam started and was subsequently detected as there was no trace of such on Walmart’s website but the scammers behind this scheme sent emails attaching what seems like a legitimate Walmart site exploring their tech-inclined initiatives.
But the way this scheme got faulted was on the basis that nothing of such was stated on Walmart’s website. While Walmartleafy.com offered to sell tokens immediately to anyone who asked, the real blockchain program usually refer suppliers to the portal hosted by IBM to continue the process. Another loophole in the scheme is that it requested only Bitcoin or Ethereum leaving no option for Credit Card and wire transfer payment which is obviously not going to happen if it were really from Walmart.
Before sentiments start to fall in or excuse that it might really be from Walmart, when the retail giant was contacted to confirm the authenticity of this scheme, Walmart replied denying anything to do with the project;
“Walmart has not announced a cryptocurrency payment method for customers. Websites under the names WalmartProjects.com and WalmartLeafy.com are fraudulent and have no connections to Walmart.com or WalmartLabs.com – we are working with the proper agencies to ensure they are reported and removed. Walmart will continue to keep customers informed of changes we make to payment methods and encourage them to stay vigilant.”
Another important information is that Walmartleafy.com has been taken down as at press time, but it is still worthy of note that the WAL token is a fake and fraudulent scheme which has no connection with Walmart. This implies that putting once money in the sea is better than trying this token out, perhaps the blue body of water could wash it to the shore but money put in this scheme would never come back.