Binance became the last platform to warn about Litecoin due to the latest privacy update. The platform will not support Litecoin transactions using the said update MimbleWimble Extension Blocks (MWEB).
Leading crypto asset trading platform Binance made an announcement about Litecoin today. Accordingly, Binance will not support Litecoin transactions using the latest privacy update. The platform warned users not to make Litecoin transfers with the MWEB function and stated that depositing Litecoin to users’ Binance accounts with this function will result in loss of funds.
In recent weeks, some South Korean exchanges have also issued a warning regarding this feature, which allows the Litecoin network to hide transaction data, and then announced that it will delist within the scope of compliance with regulatory frameworks. Although Binance does not choose the delist route, it will not support transactions made with this feature.
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