The cryptocurrency exchange giant Binance has resumed the Dogecoin withdrawals after solving the system issue caused by the exclusive DOGE wallet upgrade in the platform.
Binance officially announced today that it had resumed DOGE withdrawals following the major glitch due to which customers had to wait for 17 days to withdraw the coins.
The exchange giant hinted at the Tesla CEO Elon Musk and Binance CEO Changpeng Zhao’s battle on Twitter. What started off as a simple upgrade developed into a problem, with Binance customers unable to withdraw DOGE for the past 17 days. Furthermore, 1634 users received old transactions.
Binance specifies a mix of causes
As TheCoinRise reported, Elon Musk and CZ recently fought an online crypto-related battle related to issues with Dogecoin (DOGE) withdrawals. Musk argued that Binance’s DOGE withdrawal issue seems “shady.”
Today’s announcement states:
“It was unfortunate for Binance, the DOGE network, and DOGE holders. If we at Dogecoin Core maintainers and Binance had tried to plan this, we simply would not have been able to — not quite the shady circumstances that some had suggested.”
It further clarified that no one, including Binance and DOGE Network, is at fault as no entity had prior knowledge of the issue. Hence, no one will get fired regarding this.
Binance explained that the issue happened due to a “mix of four unlikely factors”:
- Listed DOGE in 2019, at v1.14.0
- Transactions issue in wallet
- Upgradation of wallet to v1.14.2
- Updated to v1.14.5
At the time of publication, DOGE is sitting at 10th position with a market capitalization of $28.9 billion. The price has dropped recently, but it has been up by more than 10% in the last 24 hours as the crypto market, including Bitcoin and Ethereum, recovered recently. The market is speculated to go up from here as the nearest critical level is achieved by Bitcoin in TheCoinRise’s recent Bitcoin technical analysis.