Saturday, June 22, 2024

DOGE withdrawals at a glance: Tesla boss Elon Musk messes with Binance – “Sounds dodgy” | News


?? Binance users could no longer withdraw their DOGE tokens
?? Elon Musk Asks Binance What’s Going On And Says The Issue Is “Crappy”
?? Binance CEO Apologizes With Hit To Musk

Binance users have problems with DOGE withdrawals

The CEO of Tesla and founder of the space company SpaceX has long been known to have a soft spot for cryptocurrencies. After all, the jack-of-all-trades caused huge fluctuations in the oldest cyber currency Bitcoin, but also the still young and fun DOGE currency, through various tweets. Recently, however, he contacted crypto exchange Binance directly through his favorite medium.

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The background is a technical issue that the digital currency trading platform experienced earlier in the month. During a Binance update, for example, an error occurred that caused the exchange to be forced to temporarily suspend withdrawals of the crypto currency DOGE. Therefore, the DOGE owners were unable to withdraw their coins. Additionally, an error occurred that Binance later reported, in which 1,674 users were sent old DOGE transactions, which in turn led to massive problems with the DOGE wallet. According to CoinDesk, several users reported that Binance asked them to return DOGE tokens that they did not have (no longer).

Elon Musk talks to Binance about DOGE issues

Musk alluded to these issues when he reached out to Binance on Twitter and asked, “Hi @cz_binance, what’s wrong with your Doge customers? That sounds dodgy.”

Binance CEO Changpeng Zhao, or CZ for short, didn’t have to wait long for an answer and addressed technical difficulties with the DOGE wallet. Although he apologized for “any inconvenience,” he immediately sent a hit to Musk in which he attached a Guardian article to his tweet, reporting on a Tesla recall in early November in which a software update had caused security issues.

In the subsequent exchange, however, CZ apologized for his “overreaction” to the word “doubtful” and again apologized for the inconvenience.

Soon after, the CEO of Binance posted an article on the company’s own blog in which he went into the technical details of the DOGE issue and explained them in more detail.

Binance fixes the problem a few days after a Twitter exchange

A few days after this Twitter exchange, the issue was resolved and DOGE withdrawals were re-enabled on Binance. Binance insisted on addressing Musk’s allegations again in another blog post and explaining in more detail why the issue could not be resolved faster. The error was due to a combination of highly unlikely events that could not have been foreseen. Ultimately, Binance users were unable to withdraw their DOGE tokens for 17 days.

Editorial team of

Image Sources: CKA /, Virrage Images /

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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