Dogecoin users have recently been keeping an eye on Binance due to technical issues related to DOGE withdrawals on the exchange. DOGE withdrawals have been on hold for a few weeks on the exchange, so a debate has surfaced on Twitter with “Dogefather” Elon Musk. Binance has now continued to withdraw DOGE and also released a blog post explaining how the Binance and Dogecoin Core Maintainers faced issues during the DOGE wallet upgrade. Binance has also announced a further upgrade to version v1.14.5 of the Dogecoin wallet.
In one blog post, Binance said withdrawals are reopened after a two-week pause due to database problems following a network upgrade. What started as a fairly simple upgrade, has turned into an issue that has prevented Binance users from withdrawing DOGE for the past 17 days, Binance said in the post.
Following the musk vs cz controversy, Binance announced today that all issues have been resolved and DOGE has resumed deposits and withdrawals. 1634 users received duplicate transactions. https://t.co/kF73YT75Mi
– Wu Blockchain (@WuBlockchain) November 29, 2021
“It was an unlikely and unfortunate coincidence for Binance, the DOGE network, and the DOGE holders. If we were the maintainers of Dogecoin Core and Binance tried to plan this, it would simply be we wouldn’t be – not quite the shady cases as some have suggested,” said Binance.
The exchange reviewed Dogecoin’s deposit and withdrawal activities and revealed that in the process of updating the meme coin wallet to the new version, 1,634 users received old transactions and a bunch of random elements. caused unforeseen problems. However, Binance is the only exchange affected by delayed withdrawals and stale transactions, which is what leaves users scratching their heads.
Earlier this month, Elon Musk, CEO of Tesla and one of Dogecoin’s biggest supporters, tweeted about his concerns about Binance’s withdrawal limits. According to the digital exchange, the issue of the wallet upgrade was unlikely and regrettable. Binance assures its users that the company is working with all relevant parties to ensure safe and secure cryptocurrency transactions.
At the time of publication, Dogecoin priced at $0.23 (about Rs 17.33), up 9.81 percent in the last 24 hours, following the Binance announcement.
