After Elon Musk’s Twitter Spat, Binance Restores Dogecoin Withdrawals On Exchange

Photoshopped Image of Elon Musk holding ‘doge’. Photo posted on Twitter by Elon Musk.

Binance had earlier said that the wallet upgrade issue was unlikely and unfortunate and assured users that the company is working to ensure safe and secure crypto transactions.

  • News18.com
  • Last Updated:December 01, 2021, 11:30 IST
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Cryptocurrency exchange was facing flak from Dogecoin holders over technical issues pertaining to DOGE withdrawals on the platform. The withdrawals were halted for DOGE holders on Binance a couple of weeks ago due to a spat with Elon Musk on Twitter. Binance has resumed DOGE withdrawals, the company announced in a blog post, saying that Dogecoin Core Maintainers faced issues during the DOGE wallet upgrade. Binance has also announced an update of Dogecoin Wallet to version 1.14.5.

Binance said that DOGE withdrawals are open again after a two-week pause that was caused by a database issue after a network upgrade. The company said that a straightforward upgrade turned into an issue where Binance users were unable to withdraw DOGE for the last 17 days. Binance also revealed that during an update of Dogecoins’ wallet to a new version, 1,634 users received old transactions, and that a series of accidental factors caused the unforeseen issue. Binance was the only exchange that faced this issue.

Earlier, Tesla CEO Elon Musk had hit out at Binance, expressing concerns over the withdrawal limits on Binance. “Hey @cz_binance, what’s going on with your doge customers? Sounds shady,” Musk had tweeted after cryptocurrency exchange had limited withdrawals of meme-based digital currency dogecoin. Binance had earlier said that the wallet upgrade issue was unlikely and unfortunate and assured users that the company is working to ensure safe and secure crypto transactions.

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