Crypto Currency News

Trending News

Ethereum Classic

After Elon Musk’s Twitter Spat, Binance is restoring Dogecoin withdrawals on the exchange

Photoshopped image of Elon Musk holding “Doge”. Photo posted by Elon Musk on Twitter.

Binance had previously said that the problem with the wallet upgrade was unlikely and unfortunate and reassured users that the company was working to ensure secure crypto transactions.

  • Last updated:December 01, 2021, 11:30 AM IS

The cryptocurrency exchange faced Flak from Dogecoin holders due to technical issues related to DOGE withdrawals on the platform. Withdrawals for DOGE holders on Binance were stopped a few weeks ago due to an argument with Elon Musk on Twitter. Binance has resumed DOGE withdrawals, the company announced in a blog post, saying that Dogecoin core supervisors had issues during the DOGE wallet upgrade. Binance has also announced an update of the Dogecoin Wallet to version 1.14.5.

Binance said DOGE withdrawals are reopening after a two-week hiatus caused by a database problem after a network upgrade. The company said a simple upgrade became an issue where Binance users have been unable to withdraw DOGE for the past 17 days. Binance also revealed that during an upgrade of Dogecoins’ wallet to a new version, 1,634 users received old transactions and that a number of random factors caused the unforeseen problem. Binance was the only exchange that faced this problem.

Previously, Tesla CEO Elon Musk had struck Binance and expressed concerns about the withdrawal limits at Binance. “Hey @cz_binance, what’s wrong with your Doge customers? Sounds dodgy, “Musk tweeted after the cryptocurrency exchange had limited withdrawals from meme-based digital currencies Dogecoin. Binance had previously said the problem with the wallet upgrade was unlikely and unfortunate and assured users that the company is working on it to ensure secure crypto transactions.

Read all the latest news, breaking news and coronavirus news here.

Comments are closed.