The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Binance restarts DOGE withdrawals just days after Elon Musk's remarks

3 min reading

Due to a "combination of unlikely factors," Binance users were incapable to withdraw Dogecoin, according to the exchange

Binance, one of the world's top cryptocurrency exchanges by everyday trading volume, has resumed Dogecoin (DOGE) withdrawals after a technical problem triggered by the DOGE wallet upgrade.

The exchange officially declared on Monday that it has resumed DOGE withdrawals following a significant interruption in which Binance users were unable to withdraw Dogecoin for 17 days.

Furthermore, due to a dispute among various DOGE wallet versions, 1,634 Binance users were sent outdated transactions. This occurred as a result of a "combination of unlikely factors" and eventually affected just Binance. The following was stated by the exchange:

“In short, if 1) your platform had listed DOGE all the way back in 2019, at v1.14.0 2) had transactions stuck in the wallet 3) had upgraded the wallet to v1.14.2 4) AND then updated to v1.14.5 — you can have an issue.”

“Unfortunately for Binance, we had inadvertently threaded the needle with all of the above parameters, which led to the coins being re-sent and requiring a new wallet needed to be built,” the announcement states.

Binance highlighted that "no single entity was at fault," as neither Binance nor the DOGE Network had been aware of the issue beforehand.

The change occurred after Tesla CEO Elon Musk raised the matter on Twitter on Tuesday, calling Binance's DOGE withdrawals "shady." Binance CEO Changpeng Zhao suddenly announced that the issue was caused by the most recent DOGE wallet upgrade.

Dogecoin is a meme-based cryptocurrency that has grown in popularity after Musk began actively promoting it on Twitter in 2020. DOGE is the 10th largest cryptocurrency, having a market capitalization of $27 billion, at the time of writing. DOGE's price has lately dropped, with Dogecoin decreasing more than 22% in the last 14 days, according to sources.

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.