Seventeen days after the outage affecting old Dogecoin transactions, the cryptocurrency exchange Binance announced the resumption of withdrawals from the platform. However some users who settled the exchange’s ‘debt’ still cannot recover their funds.<\/p>\n
According to an official Binance statement, as a result of updating Dogecoin to version 1.14.5 and lowering fees, previously stuck transactions dating from 2019 were processed automatically. In total the incident affected 1,674 users worldwide.<\/p>\n
Representatives of the exchange had resolved the issue by Saturday, November 27.<\/p>\n
\n“We have verified that there are no issues and are pleased to announce that withdrawals are fully open again from today,” according to Binance.<\/p>\n<\/blockquote>\n
However the situation did not resolve for all users. ForkLog editors asked Binance representatives for comments on this case.<\/p>\n
Another user who goes by the nickname alexmen89 said that a week after the freeze he decided to pay the 6680 DOGE demanded by the exchange.<\/p>\n
\n“Withdrawals have been restored. Now I demand the return of funds; there have been no movements yet,” said the affected user in a ForkLog comment.<\/p>\n<\/blockquote>\n
Yuri added that one of the transactions went to the Livecoin exchange, whose owners allegedly carried out an exit scam<\/a> in late 2020.<\/p>\n
\n“I do not have access to these funds for obvious reasons. I only have access to the address with 27 657 DOGE<\/a>. So in total I have lost about 50 000 DOGE, now I am trying to obtain compensation,” shared the affected person.<\/p>\n<\/blockquote>\n
ForkLog reached out to Binance for comments on this case.<\/p>\n
Another user who previously contacted us under the nickname alexmen89 said that a week after the block he decided to pay the 6680 DOGE demanded by the exchange.<\/p>\n
\n“Withdrawals have been restored. Now I demand the return of the funds; there have been no movements yet,” he told ForkLog.<\/p>\n<\/blockquote>\n
As a reminder, on 10 November, as a result of a software upgrade glitch, Binance re-executed an unknown number of user transactions with Dogecoin, performed years ago. After the funds left the exchange’s cold wallet to third-party accounts, the platform demanded that the senders of the original transactions reimburse the losses at the current rate and blocked their balances<\/a>.<\/p>\n
During the period of issue resolution Binance temporarily disabled Dogecoin withdrawals.<\/p>\n
A few days later, Elon Musk drew attention to the incident. In response, the exchange said that the cause of the outage lay in the technical configuration of the wallet for DOGE<\/a>.<\/p>\n
Tesla chief Elon Musk noted that Binance DOGE holders should be protected from errors that are not their own making.<\/p>\n