Bithumb delists Monero amid Nth room sex scandal

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The list of crypto exchange to delist Monero (XMR) crypto coin continues to broaden as Bithumb join the compiling list. Bithumb delists Monero stating that officially from June 1, the crypto would cease to be traded on their platform anymore.

Huobi to delist Monero permanently

The Korean exchange firm had temporarily delisted the crypto coin in April; however, local media reports that the firms delisting authority board decided to delist the coin permanently. Outside Bithumb, other crypto exchanges have begun delisting Monero because of the coin’s privacy features. BitBay, OKEx are some of the major exchanges to have delisted the coin before now as Bithumb joins the list.

Last year, BitBay said the decision to delist Monero was to block possibilities of money laundering and inflow from external networks.  The coin has also been stained recently as it has been at the center of the Nth room sex scandal.

Bithumb delists Monero ditto Huobi Korea

Reportedly, Telegram users use the coin to buy illegal pornographic materials involving minors. The coin is said to be the choice of suspects involved in the act because of the infrastructure that protects the identities of people behind Monero transactions.

Amid that, the crypto trading volume has plunged significantly in recent times, making Bithumb delist Monero.

Reportedly, Huobi Korea last month stopped supporting Monero because of scandals. However, Huobi did not quote the Nth room scandal as to why they delisted the coin. Before that also, there were reports that crypto firms where helping authorities to carry out investigations related to the NTH room scandal. Bithumb, Coinone, where some of the crypto firms listed to be assisting these authorities to find out those behind the child porn scandal.

Sexually exploitative videos through Telegram

The Nth room scandal refers to a criminal case involving blackmail, cybersex trafficking, and the spreading of sexually exploitative videos through Telegram.  Around 40 suspects were said to have paid cryptos for access to digital prints of rape videos and sexual exploitation of minors.

The Nth scandal has made police raid crypto exchange firms in the country yielding information that has assisted the police in their investigation.

bithumb delists monero

Vanguards of the space think crypto exchanges should make a strong stand against involvement with criminal elements to prevent the encroachment of centralized regulatory agencies. What’s the update on PornHub? It’s another shady dealer of similar videos.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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