Binance recently announced that it suspended Dogecoin withdrawals for a short time and made the following statement:
“After doing a version update in 2021-11-10, we discovered a minor issue with DOGE network withdrawals on Binance. As a result, we have temporarily suspended withdrawals from the DOGE network until this issue is resolved. Binance is actively working with the DOGE project team to resolve the issue.
Please note that withdrawals from the DOGE network will remain closed until this is fixed. Users can still pull DOGE on other networks during this time.”
Description Arrived
After Binance stopped shooting on the Doge network, a statement came from the account called Dogecoin developers.
The statement said:
“With some clarification on his situation on Binance:
1) A little over a year ago, Binance informed us that transactions were congested. These transactions were not shown to us, but it was suggested that they were ‘stuck’ due to insufficient fees…
2) Binance has chosen to resend/rebroadcast these trades. We have instructed Binance to use the inputs of stuck trades to force them to be overridden by backup trades. We were not informed about whether they followed these instructions…
3) Binance then notified us of account reconciliation issues. We were not able to reproduce these issues with the data given to us by Binance, but suggested (months ago, now) issuing -zapwallettxes to mitigate the issue…
4) Yesterday we were informed that previously stuck transactions (insufficient fee) were suddenly transferred successfully after the 1.14.5 update – probably because the minimum fees were lowered in 1.14.5…
5) The only example we have from Binance is a (very low) fee transaction valid in v1.14.5 but invalid in 1.14.3 and earlier. Note, Binance has directly updated from v1.14.3 to 1.14.5 in the past few days…
6) What we believe is happening right now is that previously stuck transactions are automatically retried as every node reboots after an upgrade – and it has passed, because now the lowest fee is lower…
7) Takeaways: Invalid transactions do not have a defined timeout limit, but are often thrown out due to memory limits. But they can hang if the mempool is not maintained…
8) The correct action to cancel a transaction is to spend the inputs of the transaction to be canceled on a different transaction, which invalidates the first one…
9) For all providers concerned about static invalid transactions, we recommend stopping the nodes, removing the mempool.dat file just in case, then starting the node with -zapwallettxes….
10) Also, this should probably be done as a routine maintenance practice; especially if you know that a number of invalid transactions have been refactored.
Providing some clarification the Binance situation: 1) A bit over a year ago, Binance notified us that they had stuck transactions. We were not shown these transactions, but it was suggested that they were ‘stuck’ due to insufficient fees…
— Dogecoin Developers (@dogecoin_devs) November 11, 2021