Public Opinion of "House N" Fermented, Bithumb Faces Pressure to Remove Monero

South Korea's well-known cryptocurrency exchange Bithumb is under pressure to delist Monero (XMR) as the public's anger over the "room N" telegraph group incident continues to dominate the country's news headlines.

According to a report by Sisa Journal, after Huobi Korea recently decided to delist XMR, this pressure is now increasing. XMR is a high-profile privacy coin, which gives users a higher degree of anonymity than most traditional currencies.

Public Opinion of "House N" Fermented, Bithumb Faces Pressure to Remove Monero

As the "room N" investigation continued, mainstream media vigorously attacked XMR, and they directly linked XMR and the dark web.

In addition to Bithumb, Huobi Korea is the only large cryptocurrency Huobi exchange that can trade XMR in Korea, but on April 9, Huobi Korea said that "anonymity" was one of the reasons for its termination of XMR transactions, but the company added Said that "the transaction volume is not high" is another factor.

Other exchanges such as Upbit and OKEx Korea have already delisted XMR and a series of well-known privacy coins last fall.

A Bithumb spokesman said that issues related to the delisting of currencies should be handled by its audit committee, which has not yet decided on the delisting of XMR.

In the past 24 hours, actually only 0.08% of Monero transactions were conducted on Bithumb.

There is currently no conclusive evidence that the people in the "room N" group traded through XMR.

However, some media said they have seen evidence from the police that people buy videos of this telegram group through XMR and hide their identities. According to reports, the main suspect in Room N, Cho Joo-bin, and his main associate, the administrators of multiple chat rooms in Room N, are also using XMR.

According to the Sisa Journal, an accomplice of Cho and an administrator suspected to be the "Gotham room" of the Telegram chat room in Room N said in a private chat that XMR was his favorite payment token for distributing videos because it "Unable to track".

The police also believed that at least another administrator of Room N had talked to Cho about using XMR and suspected that Cho had paid some of his administrators a "monthly fee" on XMR at least-although they had not successfully tracked To this fee.

The report believes that since 2018, the chat room may have been very active, some media said that as many as 26,000 people-including at least one policeman-may pay and watch these videos using cryptocurrency.