Binance – DOGE controversy has been settled, deposits and withdrawals are back to normal
Binance has reopened Dogecoin withdrawals after a technical glitch sparked heated debate about DOGE “godfather” Elon Musk. Dealers have not been able to withdraw DOGE for more than two weeks due to an issue related to network upgrades.
The largest exchanges in the world have been hit pretty badly, not because of one problem or another. Binance, the crypto trading giant, is no different. If so, it may take some time to identify, diagnose, and fix the problem. This is the latest case and at the moment everything seems fine.
According to the official press release, Binance handle Success problem. DOGE deposits and withdrawals are back in operation. 1634 users have now received duplicate transactions.
Main problem: A combination of factors resulted in unexpected crashes.
“In short, if 1) your platform listed DOGE in version 1.14.0 in 2019; 2) a transaction is stuck in the wallet; 3) Wallet updated to v1.14.2; 4) Then update to v1.14.5 – problems may arise. Unfortunately for Binance we accidentally chained the above factors together, which resulted in the captured coins being returned and a new wallet to be created. “
Binance, the world’s largest cryptocurrency exchange, said the incident was “a rare and unfortunate coincidence” and “absolutely not the seedy case some have suggested”. That seems to relate to Musk’s allegation on Twitter last week that the incident “sounds seedy”.
“Neither entity was to blame, however, neither Binance nor DOGE Network had this rare problem.”
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According to Ambcrypto