{"id":53384,"date":"2021-11-23T15:08:47","date_gmt":"2021-11-23T13:08:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53384"},"modified":"2025-09-03T14:55:13","modified_gmt":"2025-09-03T11:55:13","slug":"elon-musk-prompts-binance-to-disclose-details-of-dogecoin-old-transaction-glitch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-prompts-binance-to-disclose-details-of-dogecoin-old-transaction-glitch\/","title":{"rendered":"Elon Musk prompts Binance to disclose details of Dogecoin old-transaction glitch"},"content":{"rendered":"<p>The cryptocurrency exchange Binance said it is addressing the problem of customer withdrawals affected by a glitch in old Dogecoin (DOGE) transactions, but it will take about another week. The company published the statement after the incident drew the attention of Elon Musk.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">(Thread) An update on the issue we\u2019re having with <a href=\"https:\/\/twitter.com\/search?q=%24DOGE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DOGE<\/a> withdrawals: <\/p>\n<p>The root cause is a technical issue during the recent upgrade process that caused old transactions to be resent to 1,674 users.<\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1463093243277570051?ref_src=twsrc%5Etfw\">November 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On 10 November, as a result of a software upgrade glitch, Binance repeated an unknown number of user DOGE transactions made years ago. After the funds left the exchange&#8217;s cold wallet to third-party accounts, the platform demanded that the senders of the original transactions reimburse losses at the current rate and blocked their balances.<\/p>\n<p>The incident drew the attention of Elon Musk. On 23 November the entrepreneur addressed Binance\u2019s chief:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHey, Changpeng Zhao, what&#8217;s going on with your DOGE holders? Sounds shady.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hey <a href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\">@cz_binance<\/a>, what\u2019s going on with your Doge customers? Sounds shady.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1463085111600205825?ref_src=twsrc%5Etfw\">November 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to Musk\u2019s post, the company publicly disclosed details of what happened.<\/p>\n<p>According to Binance, the cause lay in the technical configuration of the DOGE wallet. Addressing the issue will require the platform\u2019s staff \u201ca week or so.\u201d Dogecoin developers are assisting. The incident affected 1,674 customers.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a long and complex process, but the team is working around the clock. We understand that users who received old transactions, and users who cannot withdraw DOGE, are upset \u2014 and rightly so. We have politely asked those who received erroneous transfers to return them, but we know some users are having trouble accessing certain wallets,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>In response, the head of Tesla noted that Binance DOGE holders should be protected from errors that are not their fault.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Doge holders using Binance should be protected from errors that are not their fault<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1463096278171148290?ref_src=twsrc%5Etfw\">November 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CZ himself joined the discussion, noting that Tesla also experiences software failures that threaten user safety.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Elon, we are pretty certain it is an issue with the latest <a href=\"https:\/\/twitter.com\/hashtag\/doge?src=hash&#038;ref_src=twsrc%5Etfw\">#doge<\/a> wallet. We are in communications with the devs. Apologies for any inconvenience that may have caused you.<\/p>\n<p>What happened here? \ud83d\udc40<a href=\"https:\/\/t.co\/g2J50zqbEu\">https:\/\/t.co\/g2J50zqbEu<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1463098640319217670?ref_src=twsrc%5Etfw\">November 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cElon, we are pretty sure this is a problem with the latest DOGE wallet version. We are in touch with the developers. Apologies for any inconvenience this may have caused you. What happened?\u201d<\/p>\n<\/blockquote>\n<p>Analyst The Block Larry Cermak suggested that \u201cCZ will call this FUD and block Elon.\u201d In the next tweet he mocked Zhao and Musk\u2019s exchange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">And just like this, we have a $300B+ dick measuring contest <a href=\"https:\/\/t.co\/yimZpN152o\">pic.twitter.com\/yimZpN152o<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1463099906755907584?ref_src=twsrc%5Etfw\">November 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Two affected users told ForkLog that the exchange had unlocked their dashboards. The situation also improved for about eight participants in a Telegram chat created after the incident.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere were 30 people in the group. In that time about 10 people were unlocked, give or take. I was among those lucky ones. I have no idea by what principle they unlocked them,\u201d ForkLog trader Dmitry said in an interview.<\/p>\n<\/blockquote>\n<p>He added that the affected users via Reddit reached out to one of the Dogecoin developers. Subsequently, that developer personally investigated the details with Binance users who had been blocked.<\/p>\n<p>As a reminder, in late October on the Binance.US platform <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-briefly-falls-to-8200-on-binance-us\">Bitcoin price in a minute fell by 87%, to $8200<\/a>. The price drop was linked to a software error in one institutional client\u2019s trading algorithm \u2014 the algorithm failed.<\/p>\n<p>Read ForkLog\u2019s bitcoin news on our Telegram \u2014 news about cryptocurrencies, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance said it is addressing the problem of customer withdrawals affected by the bug with old Dogecoin transactions, but it will take about another week. The firm published the statement after Elon Musk drew attention to the incident.<\/p>\n","protected":false},"author":1,"featured_media":53385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1301,99,1217],"class_list":["post-53384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-blockchain-vulnerabilities","tag-dogecoin","tag-elon-musk"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53384"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53384\/revisions"}],"predecessor-version":[{"id":53386,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53384\/revisions\/53386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53385"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}