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Binance suspends Doge withdrawals!



It had become relatively quiet about Dogecoin and the Doge token in the past few days. The price of the recently hyped meme cryptocurrency has been moving sideways for weeks, while Bitcoin, Ethereum and many other Altcoins are rushing from all-time high to all-time high. The current report brings Dogecoin back into the headlines, but the fan base is unlikely to like it any more than the recent unpleasant price development.

Dogecoin update causes Binance problems

Because after an update in the Dogecoin network, Binance users are temporarily not able to have their Doge stocks paid out. Thursday lunchtime announced the crypto exchange that it had discovered a "small problem". Until this is resolved, Doge withdrawals would be suspended. Binance is working closely with the developers of the project to solve the problem. Apparently, the error could not be corrected until Friday evening.

The Dogecoin developers explained the problem in a lengthy Twitter thread as follows: A year ago, Binance informed them that some Doge transactions were stuck on the network, probably due to insufficient fees. The transactions were triggered again, as Coindesk writes. It is therefore unclear whether Binance has made the original transactions invalid with the replacement transactions, as the developers write.

Binance freezes user accounts

Apparently, after the update, an attempt was made to carry out the stuck transactions again. Because the Minfee is now lower, the transactions have gone through. Accordingly, several Binance users have the problem that the crypto exchange has made Doge withdrawals without their knowledge - and without that Dogecoin was still in their possession. Then Binance had reclaimed the - no longer available - tokens.

Until the bill is paid, according to the crypto exchange, users cannot make any further payments. Several people affected reported this problem on Reddit and Twitter. It is not known when the problem will be solved and the users will be able to use their crypto holdings again. The Dogecoin developers accused Binance of simply not maintaining the so-called mempool sufficiently, in which the unconfirmed transactions are stored.

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