Crypto exchange Binance blazoned it’s ending support for Litecoin( LTC) deals transferred through the rearmost MimbleWimble( MWEB) upgrade.
Binance advised that any sale transferred through the MWEB function would be lost since the crypto exchange ca n’t corroborate the sender’s address. The crypto exchange did n’t respond to Cointelegraph’s request for commentary at the time of publishing.
The advertisement comes just days after major South Korean crypto exchanges excluded LTC due to the rearmost upgrade, which makes sale information nonpublic. The delisting came just weeks after five crypto exchanges issued warnings analogous to Binance. still, the delisting did n’t come as a surprise, as South Korea is known for its strict sequestration laws, which enjoin anonymous deals on crypto exchanges.
The MWEB upgrade on LTC is one of the critical updates that went live before this time, nearly two and half times after it was first proposed. The upgrade added several sequestration features and made the LTC blockchain more scalable.
Gate.io, another popular crypto trading platform, also ended support for MWEB Litecoin deals, claiming anonymous deals aren’t supported on the platform.
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The decision to end support for the MWEB function also comes at a time when the leading crypto exchange has been marred in difficulties. Binance was lately indicted of easing$2.5 billion worth of lawless deals by Reuters.
Chagpeng Zhao( CZ), the CEO of Binance refuted all similar allegations, pointing to the data released by blockchain analytics firm Chainalysis.