Binance Has Resolved Technical Issues Related to its Dogecoin Wallet

November 30, 2021

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The world’s biggest cryptocurrency trade, Binance, said on Monday it generally resolved of its Dogecoin wallet that resulted in users’ accounts being frozen. The reason for the more than fourteen-day-long fiasco was an unfortunate coincidence of occasions, not exactly the obscure circumstances that some had proposed, the trade wrote in a blog entry. 


Prior to November, the trade carried out a software update for the well-known meme coin, and the update triggered a glitch, old users’ transactions from 2019 were re-played, and Binance re-sent DOGE from its wallet to the equivalent addresses that users withdrew their coins to move in 2019. Binance said 1,634 users were affected by this issue. 


As a result, the trade lost a few funds from its treasury, so it then, at that point, turned around to users whose transactions were replayed are approached them to return the DOGE. What started as a genuinely clear upgrade, transformed into an issue where Binance users couldn’t withdraw DOGE throughout the previous 17 days, the exchange added.


<h2>Binance Told Its Users That They are Required to Return the Coin</h2>

Binance told those users they needed to return the coins, in any case, any crypto on their equilibrium identical to the sum mistakenly sent by the trade would be frozen. Multi-week after the fact, Elon Musk tweeted at Changpeng Zhao, CEO of Binance, saying that the circumstance sounds obscure. 


Before long that, Binance distributed an update saying it was rebuilding its dogecoin wallet. In the present blog entry, the trade pinned the issue on a blend of far-fetched factors related to the Dogecoin blockchain upgrade from the previous form. As per the affected users, who have been trading updatees in a devoted Telegram group, a large portion of them at last got their accounts unfrozen sooner or later last week.


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