KEY POINTS

  • Dogecoin withdrawals on Binance are now fully operational
  • Binance blog took a shot at Elon Musk's comments
  • 1,634 accounts were earlier sent old transactions

Binance announced that Dogecoin (DOGE) withdrawals are fully open again after being closed for nearly 17 consecutive days. As many as 1,634 accounts were sent old transactions, the company said in its blog post Monday.

Dogecoin Core developers and Binance worked together to fix the issues. 

Earlier, after an update to the Dogecoin Core 1.14.5, DOGE holders on Binance were asked to return tokens they didn’t have in their wallets. The exchange had also denied wallet withdrawals. Binance is the world's largest cryptocurrency exchange by trading volume.

In a blog titled, The Inside Story on DOGE withdrawals, the exchange shared details on what exactly traspired leading to the issue during the DOGE wallet upgrade. 

“What began as a fairly straightforward upgrade turned into an issue where Binance users were unable to withdraw DOGE for the last 17 days. In addition, 1,634 users were sent old transactions. You may have heard the news, thanks to some friends on Twitter. Hi Elon. Hey CZ,” the exchange said. 

Binance said that there was a combination of factors that led to the issue. 

“In short, if 1) your platform had listed DOGE all the way back in 2019, at v1.14.0 2) had transactions stuck in the wallet 3) had upgraded the wallet to v1.14.2 4) AND then updated to v1.14.5 — you can have an issue,” said the Binance blog. 

The exchange claimed it had no prior knowledge of the issue and inadvertently threaded the needle with all of the above parameters, which led to the coins being re-sent and requiring a new wallet to be built.

The exchange also took a shot at Elon Musk, claiming that there were no “shady” activities going on as alluded to by the Tesla CEO and the self-proclaimed “Dogefather” in a recent tweet. 

The CEO of Binance, Changpeng “CZ” Zhao, also revealed a giveaway wherein the users would have a chance to win a Tesla or $50,000 in Dogecoin after following a few steps.

Binance Kicks-Off $ 1 Billion Fund For BSC Growth And Adoption Binance logo Photo: Binance