The Inside Story on DOGE withdrawals

Binance has always been committed to ensuring a smooth user experience, ensuring that there are no delay in the user’s fund acquisition, transaction execution, deposit and withdrawal operations. This is also the biggest reason why the Binance ecosystem is favored by millions of users around the world.

However, problems such as unsmooth experiences and delayed responses still occur from time to time, which are inevitable in every trading platform. It also takes a certain amount of time to locate, diagnose and deal with follow-up problems.

Binance would like to take this opportunity to share more details on the latest issue encountered by the core maintainers of Dogecoin and Binance during the DOGE Wallet upgrade process.

Everything went well in the early stage of the entire upgrade process. Until 17 days ago, users were unable to withdraw DOGE coins, and 1634 users received old transactions. Elon and CZ have previously disclosed the incident on Twitter.

So, what happened at that time? The following is a factual statement of the incident:

The truth is that a series of accidental factors have caused this unforeseen problem on the Binance platform, and only Binance platform has been affected.

In short, if a platform: 1) DOGE has been listed in 2019, and the v1.14.0 version is used; 2) there are still transactions in the wallet that have not been executed; 3) the platform will be upgraded to v1.14.2 thereafter; 4 ) And then upgraded to v1.14.5-you may encounter this problem.

Unfortunately, the lucky Binance stepped on all the above lightning points, which eventually caused the tokens to be sent repeatedly, and this problem needs to be solved by creating a new wallet.

This issue is an unfortunate accident for Binance, the DOGE network, and DOGE users. However, it is absolutely impossible to say that this is a collusion between the core maintainers of DOGE and Binance. Such accidental events cannot be planned artificially. Please stop all conspiracy theories about this event.

It can be said that there was no wrong party in this incident, neither Binance nor the core maintainers of DOGE could predict such an accident. So, everyone can rest assured, as CZ said -no one has been fired.

The core maintainers of Binance and DOGE have begun to diagnose and resolve this issue and prevent similar incidents in the future. On Saturday (November 27), Binance restarted the withdrawal function and conducted a comprehensive test. The test results showed that everything was normal. Therefore, Binance is pleased to announce that with immediate effect, the DOGE network withdrawal function will be fully open again.

Go to Binance Official Website