Huobi Korea announced on April viii that they would be ending back up for Monero (XMR) trading starting on April nine, 2022. They stated that this was due to "low trading volumes and anonymity functions". They did not, however, reference the recent Nth room case, in which South Korean media has speculated the exploitation ring used XMR to consummate anonymous transactions.

Co-ordinate to the Southward Korean newspaper, Sisa Periodical, headlines covering the sexual exploitation case remained rampant in the country, with many news outlets suggesting that Monero has been used for criminal acts, specifically in the Nth case.

The quoted instance is an ongoing criminal investigation that allegedly involved sexual exploitation and the distribution of videos containing rapes among Telegram conversation rooms.

Bithumb still lists XMR in S Korea despite the reports

Sisa Journal is also reporting that another cryptocurrency exchange, Bithumb, has been under pressure for its conclusion to proceed listing XMR for merchandise. According to local newspapers, it is the only remaining Korean exchange to do so.

Huobi gave the post-obit official statement regarding Monero's delisting conclusion:

"We decided to terminate the transaction to forbid the situation that could exist acquired by poor transaction volume and Monero'southward anonymity."

However, every bit Sisa Journal states, there is no conclusive evidence that XMR has been used for transactions within Telegram conversation rooms, where it has been reported that 74 females take been victims, and some of them are minors.

The South Korean paper reports that the man defendant of leading the sexual exploitation band, Cho Joo-bin, preferred Monero payments for their untraceable attributes. Information technology was likewise allegedly used to pay the chatroom's admins a monthly salary.

Cryptocurrency exchanges aiding in the investigation

On March 25, Cointelegraph reported that four cryptocurrency exchanges reportedly are profitable local law enforcement authorities in the investigations.

Upbit, Bithumb, Coinone, and Korbit are allegedly working on trying to reveal the identity of those who transacted to proceeds admission to the videos.