Cryptocurrency commutation Bithumb officially announced that they volition be delisting Monero (XMR) from their trading platform as of June 1.

According to local media outlet Newsway, Bithumb'southward delisting auditory board decided to permanently remove the coin subsequently it was provisionally delisted in Apr.

Recently, Monero has been in the spotlight due to reports of Telegram users using XMR to purchase illegal pornographic material — much of which involved minors.

Monero reportedly the Nth room's favorite crypto

Due to the security infrastructure that protects the identities behind XMR transactions, Monero was allegedly the preferred crypto used past the sexual video ring. This has added layers of complexity to investigations made by South Korean police force.

Bithumb as well cited the fact that XMR trading volumes have shrunk significantly in contempo months.

Commenting on ways the exchange will gainsay illegal transactions through its platform:

"We are conducting a technical review related to securing traceability through ongoing discussions with each foundation on virtual assets with like characteristics other than Monero."

The visitor added that they adhere to policies on providing a safe and legal surroundings for crypto transactions.

Decision made afterward Huobi Korea delisted Monero

Cointelegraph reported on April 12 that Huobi announced they would be ending back up for Monero amid the scandal. However, they did non quote the Nth room example explicitly as one of the reasons backside the delisting.

On March 25, reports appeared that 4 local crypto exchanges were assisting local law enforcement authorities in their investigations related to the case.