Binance resumes DOGE withdrawals and explains the issue by saying no one was at fault

Binance resumes DOGE withdrawals and explains the issue by saying that no one was at fault. This is the same issue due to which Tesla boss called the problem “shady” and heated conservation started between the CEO of Binance and Tesla.

In the last week, the DOGE wallet of the largest crypto exchange faced a problem. The firm acted quickly and banned all types of withdrawals. Tesla boss, Elon Musk, called this situation a bit “shady”.  The CEO of Binance came to defend its firm and argued that Musk has no knowledge of the situation. The firm announced that they were re-building the DOGE wallet. On Monday, Binance resumes DOGE withdrawals.

Binance resumes DOGE withdrawals

Binance resumes DOGE withdrawals:

Binance has explained the situation by saying that no one was at fault. They said that any platform would have the same issue if it had listed DOGE back in 2019 at v1.14.0. The transactions were stuck at v1.14.0 and the wallet was upgraded to v1.14.2 and then updated to v1.14.5. The firm further said:

What began as a fairly straightforward upgrade, turned into an issue where Binance users were unable to withdraw DOGE for the last 17 days. In addition, 1,634 users were sent old transactions.

Binance resumes the DOGE withdrawals and emphasized that no single entity was at fault. Binance and DOGE network had no prior knowledge of this rare issue, so, no one is being fired. The firm admitted that it was a combination of unlikely factors that lead to an unforeseen issue and it only affected Binance. I think the firm has provided a decent explanation and nothing seems fishy in it.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also


EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.