<span style="font-weight: 400">Binance made a </span><a href="https://twitter.com/binance/status/1536251720564887552?t=e13YHN5jL5ZeUOXohkfgDw&amp;s=19" target="_blank" rel="nofollow noopener"><span style="font-weight: 400">tweet</span></a><span style="font-weight: 400"> to announce their latest decision. They said that they will not be using the MimbleWimble Extension Blocks (MWEB) function for LTC deposit and withdrawal. The crypto exchange previously stated that it will discontinue trading LTC due to MWEB's anonymous nature.</span>

https://twitter.com/binance/status/1536251720564887552?t=e13YHN5jL5ZeUOXohkfgDw&amp;s=19
<h2>Binance Stops LTC Deposit and Withdrawal Support Through MWEB</h2>
<span style="font-weight: 400">When transmitting Litecoin (LTC) via the MimbleWimble Extension Blocks (MWEB) function, users can keep their transaction information private while still sending LTC. <a href="https://www.cryptoknowmics.com/news/binance-picks-triplea-as-global-cryptocurrency-payment-gateway/" target="_blank" rel="noopener">Binance</a></span><span style="font-weight: 400"> will not be supporting this feature.</span>

<span style="font-weight: 400">Due to the fact that Binance cannot verify the sender's address, any LTC deposit and withdrawal made with MWEB wouldn't be received or repaid. It will lead to the immediate loss of cash. Using MWEB to deposit LTC puts your cash at risk, therefore please avoid doing so.</span>
<h2>MimbleWimble Extension Blocks</h2>
<span style="font-weight: 400">MWEB, presented as an LTC Improvement Proposal in November 2019, improves fungibility and transaction secrecy. If you think about it, you may think of the MWEB network as a parallel highway. A highway that connects the main chain to the extended block and back again. It'll be offering "secret" LTC transactions wherein the amount sent is only disclosed between parties involved. This will allow users to keep their private address balances hidden while also speeding up the network's transaction speed.</span>

<span style="font-weight: 400">Most blockchains in today's crypto ecosystem are freely analyzable. It allows users to see which addresses are transmitting cash and how much. This is comparable to the modern-day scenario of going around a store with your wallet open. It reveals your possessions to everyone who happens to look. Unknown third parties all over the world are able to see your financial transactions and account balances at any given time. Even the current banking system does not allow for this degree of public disclosure. It'd be bad for businesses to disclose information. Specifically, information that is normally kept secret due to ethical considerations.</span>

Binance to Stop Supporting LTC Deposit and Withdrawal Via MWEB

Binance tweeted that they will stop supporting LTC deposits and withdrawals through the MimbleWimble Extension Blocks (MWEB) function.

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Binance to Stop Supporting LTC Deposit and Withdrawal Via MWEB

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