Upbit to Delist Litecoin

One of South Korea’s largest cryptocurrency exchanges, Upbit warned users about the delisting of Litecoin (LTC) on June 20, 2022.

According to the announcement, Upbit requested additional information from the Litecoin Foundation about the MimbleWimble protocol and conducted its own analysis.

“[…] it has been determined that the update includes an option that allows users not to disclose information about transactions”, the company emphasised.

According to Upbit representatives, this violates local law. Until July 20, users can withdraw funds from the platform.

On May 20 in the Litecoin mainnet activated the protocol with scalability and enhanced privacy features. It uses several technologies, including confidential transactions and CoinJoin, which hides the inputs and outputs of senders and recipients, and also merges multiple transactions into one.

Following this, the possibility of delisting LTC was announced by Bithumb. As of writing, the exchange had not announced a termination of support for the asset, but 8BTC reported that the exchange had delisted the coin. A similar move was allegedly taken by Coinone, Korbit and Gopax.

Five major South Korean #crypto exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax announced to delist #Litecoin (LTC)https://t.co/p1SdMr1Gu5

— 8BTCnews (@btcinchina) June 8, 2022

In late May, Elliptic added to the platform tools for tracking transactions on the Litecoin blockchain after the MimbleWimble Extension Block activation.

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