Huobi learns a lot about the DOGE word war between Elon Musk and Binance

The Twitter splash between the two billionaires could indeed have far-reaching consequences, not just for DOGE investors but also for the Binance global exchange’s customer community.

Binance is losing user trust

As reported by Cointelegraph, Binance CEO Changpeng Zhao responded after Elon Musk asked for an answer, commenting that Binance’s treatment of DOGE customers appeared “seedy”. He reiterated the reason Binance has stopped withdrawals through the DOGE network and the team is rebuilding the wallet.

“The main cause was a technical problem during the recent upgrade that resulted in old transactions being sent back to 1,674 users. I am sure this will be a big surprise for them. “

Several exchanges took the opportunity to attract DOGE investors to the platform. Huobi Research. his part explain “Hundreds of millions of dollars” was lost due to a Binance bug.

“It is interesting that not so long ago Binance announced 10 basic rights of crypto users, which mentioned ensuring the safety of user funds and their safekeeping. In this case, the arbitrary blocking of user accounts damaged their trust to some extent. “

Discussing the issue that can result in users switching to a different DEX (decentralized exchange), Huobi Research Say more:

“That is why the focus in the future should be on further standardization and improved stock exchange supervision.”

As expected, investors were not pleased and Zhao also admitted this in his statement, despite the above comments. post His Twitter has been restricted. Few people think they need to return the DOGE that Binance mistakenly sent them.

Dogecoin inventor Billy Markus is pleased that DOGE investors have a powerful ally. grandfather tweets:

“It’s nice to see Elon Musk support Dogecoin holders when their money is stuck in an exchange that the exchange was to blame. Also a lesson for everyone: keeping your crypto in an unregulated exchange is quite risky. “

DOGE price continues to rise

The story doesn’t stop there. Investors on Binance may not be able to access their wallets and funds, but that hasn’t stopped the altcoin from bouncing back.

At the time of writing, trading at $ 0.22. And yet, when Twitter users discussed brief DOGE and the real worth of this altcoin, both Billy Markus and Elon Musk shared their views.

Interactions from voices like this one will often get to the top of the charts. As expected, the price has increased 2.4% in the past 24 hours.

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