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HomeTechnology"Small problem" with Dogecoin: Binance suspends Doge withdrawals after the update

“Small problem” with Dogecoin: Binance suspends Doge withdrawals after the update

Dogecoin must currently remain in the wallet on Binance. (Photo: Shutterstock.com)

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 news brings Dogecoin back into the headlines, but the fan base is unlikely to like the taste of the recent unpleasant share price development.

Dogecoin update ensures Binance Problems

Because after an update in the Dogecoin network, Binance users are temporarily unable to pay off their Doge stocks permit. 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: inside explained the problem in a lengthy Twitter thread: 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. However, it is therefore unclear whether Binance has made the original transactions invalid with the replacement transactions, as the developers write.

Binance freezes users: inside accounts

Apparently an attempt was made to carry out the stuck transactions again after the update. Because the Minfee is now lower, the transactions have gone through. Accordingly, several Binance users have the problem that the crypto exchange 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 has been 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 when the users will be able to use their crypto holdings again. The Dogecoin developers accused Binance of simply not maintaining the so-called mempool, in which the unconfirmed transactions are stored.

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Adrian Ovalle
Adrian is working as the Editor at World Weekly News. He tries to provide our readers with the fastest news from all around the world before anywhere else.

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