Investing.com – Elon Musk, the CEO of Tesla (NASDAQ :), has once again fought on Twitter (NYSE :), this time with Binance CEO Changpeng Zhao (CZ) over recall issues.
Dogecoin, which entered the top 10 in value at the start of the year thanks in part to social media support from tycoons like Musk, is up 6,000% over the year.
When Binance suspended the option to withdraw Dogecoin in early November following an update that users said resulted in the currency being incorrectly credited to their accounts, Musk was quick to find out what was happening by writing:
“Hey [CZ]what happens to your Doge customers? All of this sounds dubious. Doge holders using Binance need to be protected from disruptions that are not their fault. “
As a reminder, Zhao previously wrote that the purpose of the exchange update was to improve the perception of Binance by regulators. During the update, indeed, there was a failure, and some of the customers were mistakenly sent the Dogecoin currency, which Binance demanded to return, otherwise they will not be able to withdraw it or use the funds on their accounts. But users have stated that they do not have Dogecoin in their Binance accounts.
And here is how Zhao explained the situation:
“Elon, we’re pretty sure this is a problem with the latest version of the Doge wallet. We are in contact with the developers … and we apologize for any inconvenience this may cause. “
After the tweet, Binance could not help but respond and posted a message explaining the situation and the problem with the Dogecoin withdrawal. The main cause of the failure was cited as a technical error during a recent update that caused old transactions to be redirected to 1,674 users. “The problem came up on Binance and not on other platforms because we have a different technical setup for the Doge wallet.”
It takes time to fully restore the crypto wallet for the Dogecoin network. And while Binance recognizes that users are “upset and rightly so,” the delay in withdrawing funds from the network will last 10-14 days, starting November 15, 2021.
Written by Laura Sanchez
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