Binance To Ban Litecoin Transactions With MimbleWimble Upgrade

The world’s biggest crypto exchange by volume, Binance, published blog post this morning saying they are not going to support the MimbleWimble Extensions Block (MWEB) feature for Litecoin (LTC) deposits and withdrawals. They cited worries about security as the main reason for this decision. #TOGRP

Binance has delisted many other coins in the past due to security reasons. For example, on March 8, 2022, Binance delisted Bitcoin Diamond (BCD), Cindicator (CND), Monetha (MTH), Nitro, Network (NCASH), and YOYOW (YOYO). MWEB is merely an opt-in feature that users may utilize while transacting on the main chain traditionally. Crypto wallets can include it as an opt-in feature, but they are not required to enable Litecoin transactions. Binance announced on June 13 that they would not be responsible if investors deposited LTC via the MWEB feature.

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