Binance clarified that any platform will have a similar issue in case it had recorded dogecoin back in 2019 at v1.14.0, had transactions stuck in the wallet, and had upgraded the wallet to v1.14.2 and afterward refreshed it to v1.14.5. Binance clarified its dogecoin issue Monday, expressing: What started as a fairly direct upgrade, turned into an issue where Binance clients couldn’t pull out DOGE throughout the previous 17 days. Also, 1,634 clients were sent old exchanges. The DOGE issue at Binance has been broadly examined via web-based media.
The exchange added: “Unfortunately for Binance, we had inadvertently threaded the needle with all of the above parameters, which led to the coins being re-sent and requiring a new wallet needed to be built.”
“The truth is that a combination of unlikely factors led to an unforeseen issue that ultimately only affected Binance,” the company admitted.
Binance emphasized: No single entity was at fault, neither Binance nor DOGE Network had prior knowledge of this rare issue. So rest assured, as CZ said – no one’s getting fired.
Furthermore, the exchange added that on Saturday, “we tested everything by opening up withdrawals again, but we did it silently to ensure there were no further issues, and now we’re pleased to announce that from today withdrawals are fully open again.”
The company noted that it has been working with the Dogecoin Core maintainers “to diagnose, solve, and prevent similar issues from occurring.”
Tesla CEO Elon Musk recently commented that the problem “sounds shady.” Binance CEO Changpeng Zhao (CZ) argued that Musk was incorrect in his assessment, accusing the Tesla boss of lacking knowledge of the situation.
News Summary:
- Crypto Exchange Binance Defines Its ‘Weird’ Dogecoin Issue: Resumes DOGE Withdrawals
- Check all news and articles from the latest Business news updates.
This news is republished from another source. You can check the original article here
Be the first to comment