Hot Development: Major Exchanges Can Delist This Altcoin!

Just two days after Litecoin’s Mimblewimble update was activated on the Litecoin network, they had a major hurdle. Two South Korean-based crypto exchanges warn investors of a big mistake and say they can delist the altcoin project.

Litecoin’s future on centralized exchanges disrupted by Mimblewimble

Bithumb and Upbit, South Korea’s two largest crypto exchanges by volume, have been talking about Litecoin during the day made statements. The announcements come at a time when major investors are constantly waiting for Litecoin to feel bullish after the new update. Upbit warned Litecoin investors with the following words:

Litecoin (LTC) has been tracked. He suspects that the Mimblewimble upgrade was performed with a select function that does not reveal transaction information.

Simply put, MWED opens the possibility of sending “secret” transactions on a chain that hides the amount sent. Essentially, it makes it impossible and tax-free to track an amount sent by authorities in countries like South Korea. The developers also add that the updates increase the throughput and transaction processing speed of the network.

Altcoin may be delisted, investors beware

This announcement, which could become a major negative for Litecoin investors, could potentially lead to the delisting of the coin going forward. According to Upbit’s statements, which we have quoted as Kriptokoin.com , the exchange is always trying to prevent money laundering, so if they see that they are going to deposit money on the exchange through Mimblewimble, they will have no choice but to delist Litecoin.

The exchange also added that deposits made through the new technology will result in a permanent loss of funds as the exchange cannot be used to verify the amount traded or the sender. While Litecoin’s place on major CEXs is controversial, decentralized exchanges (DEX) welcome new functionality that makes Litecoin transactions more secure and decentralized.

Litecoin founder emphasizes transparency

Litecoin founder Charlie Lee said in a tweet on the occasion of Mimblewimble update activation:

In terms of exchangeability and privacy, MWEB I believe it got you there 90% of the time. For most people, this is good enough. That’s the difference between living in a glass house and living in a house with windows. People who need 100% privacy can live in a windowless house.