Litecoin confidential transactions spook Korean exchanges

2022.05.23 19:01

Litecoin confidential transactions spook Korean exchanges

The recent privacy-focused MimbleWimble upgrade on the Litecoin (LTC) blockchain has prompted two of Korea’s largest crypto exchanges to issue investment warnings about the fifth-largest cryptocurrency.

Bithumb and Upbit, which together account for the majority of trading volume in South Korea, released statements on Monday advising investors about the risks associated with the privacy-enhancing upgrade. Litecoin’s use of privacy-focused technology Mimblewimble allows users to make “confidential transactions,” that allow them to send tokens while concealing transaction data, according to Bithumb. Upbit issued a similar statement.

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