Crypto exchange Binance explains the whole matter regarding Dogecoin users

Binance exchange shared his point of view on the recent transactions that happened within the Binance and Dogecoin users. 

A few weeks ago, Dogecoin upgraded the network to increase the efficiency and security of the Dogecoin network. But that upgrade took place successfully with an issue with new Dogecoin transactions on the Binance exchange with few numbers of users. 

Earlier this Binance exchange didn’t share information openly and many people were just considering who made a mistake in this incident. 

On 29 November, Binance announced all about it in detailed information through a blog post. 

Binance said that the exchange is dedicated to providing the best level crypto services that are popularly Known globally and useful for crypto users. But it is a very common thing for every business to face issues with challenges and Dogecoin-related matters was also a challenge for the exchange. 

In short, Binance said that nor Binance is responsible for neither Dogecoin developer team. During the network upgrade, there was a need to create a new wallet. And that ended up being a problem for a few users. Read the full story here. 

” 1) your platform had listed DOGE back in 2019, at v1.14.0 2) had transactions stuck in the wallet 3) had upgraded the wallet to v1.14.2 4) AND then updated to v1.14.5 — you can have an issue.”

Binance said that they didn’t openly announce this issue because they only wanted to ensure the problem was fixed without any new problem. That is why they freeze the Dogecoin transactions for 1634 Binance users. 

Further Binance said that we fixed the issues related to the matter that was going on since 17 days. And also the exchange is thankful to Tesla CEO Elon Musk and Binance CEO Zhao to voice their support regarding the concerned matter.

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