Home Binance Binance Halts Doge Withdrawals

Binance Halts Doge Withdrawals

Binance, the world's largest cryptocurrency exchange in terms of trading volume, temporarily suspended DOGE withdrawals after the upgrade, the company said Thursday.

Bitcoin, Ether & Other Cryptos See Fall in Value iBase Trading.
iBase Trading Crypto News

Binance is the world’s largest cryptocurrency exchange in terms of trading volume. However, it temporarily suspended DOGE withdrawals after the upgrade, the company said Thursday.

They discovered a minor issue with DOGE network withdrawals on BNB after carrying out a version update on 2021-11-10. Binance said in a post on Thursday morning without specifying the little problem. As a result, we temporarily suspended DOGE network withdrawals until resolving the issue. Binance is actively working with the DOGE project team to resolve the issue.


However, the upgrade seems to have caused severe problems for some Binance users. These users claim that the crypto exchange initially initiated the withdrawal of Dogecoin without consent. These also are asking users to return any Dogecoin that is not currently in their Binance account.

Users ask Binance to Return DOGE

Screenshots shared with CoinDesk by several Binance users show that BNB has requested them to return DOGE to the exchange. Otherwise, their withdrawal feature will remain disabled. On the other hand, the affected users said they don’t even have DOGE in their Binance accounts to return it.

In a tweet posted on a Twitter account representing Dogecoin developers on Thursday, the developers explained that the initial withdrawal transaction appeared to be a follow-up attempt to execute a transaction requested years ago that was stuck due to low fees.

According to the tweet’s thread, an update to the Dogecoin network that started a few days ago appears to have triggered these outdated transactions. The GitHub update page states that the update has become the final new minimum fee recommendation for everyone on the network. Thus, the developer appears to have repeated the stalled transaction even though the user no longer owns the coin.

The Dogecoin developer said they tried to work with Binance when the exchange first resolved stuck transactions over a year ago but said they were not notified whether [Binance] followed to address the issue. However, Binance did not immediately respond to requests for further information on this matter.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

Previous articleAcala Slowly Rises
Next articleReef With EVM-Compatible Blockchain
Nicholas Martinez is passionate about making the crypto world more accessible by bringing the latest news to the space. He has a MBA in Business Analytics and has shown an interest in cryptocurrency from as far back as he can remember.