Upbit, one of the largest crypto exchanges in South Korea, warned users of the delisting of Litecoin (LTC) on June 20, 2022.

According to the post, Upbit asked the Litecoin Foundation for more information on the MimbleWimble protocol and did its own analysis.

“[…] The update was found to include a choice of options that allow users not to disclose information about transactions,” he said.

According to Upbit representatives, this violates local laws. Until July 20, users will be able to withdraw money from the platform.

On May 20, the Litecoin mainnet activated a protocol with broad scalability and increased privacy. It uses a variety of technologies, including confidential transactions and CoinJoin, which hides the inputs and outputs of senders and receivers and combines many transactions into a single transaction.

After that, Bithumb announced the possibility of delisting LTC. At the time of writing, the exchange did not announce that it would end support for the asset, but 8BTC reported that the company has delisted the cryptocurrency. A similar decision was allegedly taken by Coinone, Korbit and Gopax.

The Big Five South Koreans #crypto exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax announced delisting #litecoin (LTC)https://t.co/p1SdMr1Gu5

— 8BTCnews (@btcinchina) 8 June 2022

Recall that at the end of May, Elliptic added tools to the platform to track transactions on the Litecoin blockchain after enabling the MimbleWimble Extension Block.