Binance exchange has restored its Dogecoin withdrawal service following a technical challenge caused by a wallet upgrade that lasted 17 days.
The largest exchange by daily trading volumes maintains that the fault cannot be placed on the Doge network or Binance, saying no entity was negligent.
The platform says that the situation was due to a conflict of several Dogecoin wallet versions. Binance unveils that the unanticipated challenge led to the coins being re-sent and requiring the creation of a new wallet.
The technical glitch, which the exchange has termed as a combination of unlikely factors, saw 1,634 users sent old transactions.
Billionaire Elon Musk who has been very vocal about the meme token raised concerns about the issue saying it was shady. The exchange’s CEO, Changpeng Zhao, responded that the team was working on it.
Source: Binance