In the field of digital currency, privacy protection has always been the focus of much attention. Recently, MWEB upgraded Litecoin’s privacy protocol, triggering successive warnings from Korean exchanges. This move not only affects the development direction of Litecoin, but also has a profound impact on the entire cryptocurrency market. Let’s delve into the details behind this incident.

Privacy protection has always been a hot topic in the field of digital currency, and MWEB's upgrade of Litecoin's privacy protocol has attracted widespread attention. As privacy awareness increases, digital currency users have increasingly higher requirements for the protection of personal information. The upgrade of MWEB is undoubtedly to meet users' needs for privacy protection, but this move has brought new challenges to the exchange.

Korean exchanges have issued continuous warnings about MWEB upgrading Litecoin’s privacy protocol, which shows the market’s sensitivity to this change. As an important participant in the digital currency market, exchanges have a keen eye for the initiatives of project parties. Their warning may mean that they have certain concerns about the security and compliance of the MWEB upgraded privacy protocol, which has also triggered more discussions about privacy protection.

With the continuous development of the digital currency market, privacy protection has become an issue that cannot be ignored. MWEB upgraded Litecoin’s privacy protocol. Although it brought a better privacy protection experience to users, it also caused concerns in the market. The warning from the Korean exchange undoubtedly gives us a warning: privacy protection needs to strike a balance between technological innovation and regulatory compliance. Only in this way can digital currencies flourish in the future.

Overall, MWEB’s upgrade of Litecoin’s privacy protocol is an important milestone in the field of digital currency. As privacy awareness and regulatory requirements increase, privacy protection in digital currencies will receive more and more attention. We look forward to the MWEB upgraded Litecoin being able to maintain good communication with regulatory agencies and exchanges while protecting user privacy, and jointly promote the healthy development of the digital currency market.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Given that Litecoin (LTC) has successfully integrated the privacy protection protocol MimbleWimble (MWEB) to improve its privacy and activated it at block height 2265984, South Korean exchanges that have delisted multiple stealth coins also issued relevant warnings.

 MimbleWimble(MWEB)

The Litecoin Foundation first released the Litecoin improvement proposal drafts LIP-0002 and LIP-0003 in October 2019, aiming to integrate the MimbleWimble protocol for the Litecoin network to establish privacy features.

The three-year MWEB upgrade was also officially activated in the form of a soft fork at Litecoin block height 2265984 on 5/20. Founder Charlie Lee said on Twitter: In terms of fungibility and privacy, I believe MWEB can allow you to achieve 90% privacy. For most people, this is enough. This is living in a transparent glass room. A house is different from a house with only one window.

In short, MWEB can provide users with transaction options without disclosing the transfer amount and address balance. Users can still choose to conduct ordinary transactions on the main chain, or transfer to MWEB to use the private transaction function.

As for the exchange, of course, it can also decide whether to integrate with the platform wallet.

 Bithumb, Upbit warning

Bithumb and Upbit, two of South Korea's top four, respectively issued relevant investment warnings after the Litecoin MWEB upgrade.

Bithumb stated that the MWEB upgrade brings the ability to conduct private transactions to the Litecoin blockchain, allowing users to send tokens while concealing transaction information.

Both major exchanges mentioned South Korea's "Special Financial Transaction Law". Under this regulation, exchanges must implement KYC and anti-money laundering policies required by regulatory authorities. Korean exchanges often delist tokens after issuing similar warnings. shelf.

For some reason, South Korean regulatory agencies have been the most active in suppressing anonymous coins compared to authorities in other countries. In September 2019, the Korean station of the cryptocurrency exchange suddenly announced that it would remove five anonymous coins, ZEC, XMR, DASH, ZEN and SBTC. In the same month, Upbit also announced the delisting of three stealth coins.