After a few days of Dogecoin withdrawals being halted, Binance has finally resumed trading on the world’s largest cryptocurrency exchange.
The popular Hong Kong-based platform helped to bring stability back into this volatile market by providing order execution and reliable trades for all users who depend upon them – not just traders but also investors from around the globe looking forward to 2022 with optimism!
Binance and Dogecoin Core Maintainers have been hard at work these days. Doge comes hot off the heels of another successful update that saw their wallet upgrade successfully completed without any issues or bottlenecks occurring during the deployment period – an impressive feat given its large size. With all things going so smoothly within this community-driven cryptocurrency network? It seems likely now more than ever before how far crypto can go towards replacing traditional finance systems as we know it.
For 17 days, Binance users were not able to withdraw Dogecoin. Further, 1634 other users have been sent old transactions that they never received and while this is a very unfortunate event none of it can be attributed solely on them as there has been no official statement from either company yet about what caused these issues with both withdrawing funds or sending out already processed ones without warning anyone beforehand!
Binance has been working with Dogecoin Core Maintainers to detect, solve and prevent such issues. The exchange tested DOGE withdrawals on Saturday so that users can smoothly transact their coins at any time during the day or night without issue. Now all withdrawal services are fully up again!
In its official statement, Binance says, “We’d like to take this opportunity to share some more details around a recent issue that Dogecoin Core maintainers and Binance experienced 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, 1634 users were sent old transactions. You may have heard the news, thanks to some friends on Twitter.”
Elon Musk, the CEO of Tesla and someone who has been a vocal supporter for Dogecoin on social media recently tweeted about his concerns regarding withdrawal limits by Binance.
The Concern
The digital exchange says there is no indication that the recent wallet upgrade issue will affect their business. The CEO of Binance assured its users that the company is working with all stakeholders to ensure safe and secure crypto transactions.
The exchange adds, “It was an unlikely and unfortunate coincidence 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. 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.”
