Binance Is Working To Fix Dogecoin Wallet Issue As Tension Rises
Binance is working on rebuilding its wallet to fix the technical issue that caused numerous erroneous dogecoin (DOGE) transactions and user accounts being frozen.
Earlier this month many Binance users complained that their accounts had been frozen by the exchange until they returned the DOGE, which was incorrectly transferred, back to the exchange.
The largest crypto exchange in the world by number of transactions, commented on Tuesday that it is rebuilding its wallet from scratch to correct the issue, caused by a recent dogecoin software upgrade.
Binance explained that they use a different setup than other platforms for DOGE, which caused the problem, of old transactions to be resent to 1,674 users.
The incident caught the attention of Tesla CEO Elon Musk, who took it to Twitter to ask what’s going on, and called it “shady.”
Hey @cz_binance, what’s going on with your Doge customers? Sounds shady.
The CEO of Binance Zhao Chengpeng however took it further. He apologized to Musk for any inconvenience cause to him, but took a stab back by posting an article from the Guardian on Tesla recalling 12,000 cars, asking, “What happened here?”
Elon, we are pretty certain it is an issue with the latest #doge wallet. We are in communications with the devs. Apologies for any inconvenience that may have caused you.
Dogecoin developers attempted to provide some clarity in a series of Tweets.
“A bit over a year ago, Binance notified us that they had stuck transactions. We were not shown these transactions, but it was suggested that they were stuck due to insufficient fees.”
The devs said that Binanceaccording to the developers opted to “resend/reissue” these transactions and were instructed to invalidate the stuck transactions by the replacement ones. They wrote:
“We were not notified as to whether or not they followed these instructions.”
Today, the developers have said they believe the previously stuck transactions “have been retired automatically.”
Providing some clarification the Binance situation: 1) A bit over a year ago, Binance notified us that they had stuck transactions. We were not shown these transactions, but it was suggested that they were 'stuck' due to insufficient fees…
