11.August 2022

Binance ends support for Litecoin deposits and withdrawals using MimbleWimble

Share on facebook
Share on twitter
Share on linkedin
Share on vk
Share on whatsapp

According to Binance, any LTC tokens deposited using the MWEB function will not be “received or returned” since Binance is not able to verify the sender’s address. This will result to a direct loss of funds.

As a result, Binance has advised users to avoid making LTC deposits using the MWEB to avoid losing their funds.

The MimbleWimble Extension Blocks (MWEB) function that allows users to make confidential transactions comes at a when crypto exchanges are increasingly compelled to implement KYC and AML guidelines.

Those using the MWEB can council how many LTC tokens they send or receive and how many LTC tokens are in their MWEB address.

MWEB is simply an opt-in feature that users can choose to use while still continuing to make standard transactions on the main chain. Being an opt-in feature, crypto wallets also have the option of integrating it though they are not obliged to do so to support Litecoin transactions.

Binance announcement of not supporting MWEB transactions comes just days after major crypto exchanges from South Korea announced delisting Litecoin due to the MWEB upgrade that conceals transactions.

Interestingly, the delisting by the South Korean crypto exchanges came weeks after they issued warnings similar to what Binance has issued today.

However, it is not clear what Binance will do afterward and the delisting of Litecoin by South Korean crypto exchanges cannot be taken as a measuring stick since South Korea in general is known for its strict privacy laws that forbid anonymous transactions on crypto exchanges.


Author Infomation

Recent News

Related News

2023 年可能實施全球加密貨幣法規

至少,到 2023 年,相同的規則有可能適用於全球所有加密貨幣市場,這就是 Ashley Alder 所暗示的。他是全球金融監管機構國際證券委員會組織(IOSCO)的主席。 IOSCO 是監管全球市場的組織的合作夥伴關係。成員通常是國家安全和/或期貨監管機構或一個國家的主要金融監管機構。 AFM 是

Solana 讓我想起了我的破耳機

如果今年 Solana 每網絡中斷一次,我就有一美元,那麼我就能在當地超市買 500 克腰果(對於那些不知道堅果有多貴的人來說,那是 8 美元)。 再次告訴大家一個讓人驚惶無措的事情,就是 Solana 上週再次發生了網絡中斷。這並不是為了慶祝女王的白金慶典,而是因為它的主網經歷了七個小時的共識協議停滯。具有諷刺意味的是,這次中斷就發生在

Leave a Reply

Your email address will not be published. Required fields are marked *