The world’s largest crypto exchange Binance announced earlier this month that it is suspending all DOGE withdrawals after a glitch in its systems. Binance claimed to be working on the glitch but warned that the outage could take up to two weeks. Elon Musk, known today as the Dogefather, took action against this situation. Here are the details.
In a statement two weeks ago, Binance claimed that the issue affecting DOGE is complex in nature and will take 10-14 days to resolve. At the time, many users criticized Binance, claiming that they would lose money for something that was not their fault.
It was easy for Binance to ignore these users, but it wasn’t so easy to ignore Musk, who is today the richest person in the world and has 64.5 million Twitter followers.
Musk responded to an interview that Zhao gave to the Financial Times. In response to Zhao’s comments calling for a more positive perception of cryptocurrencies by regulators, Musk claimed it sounded suspicious and sent a question to CZ at DOGE on Twitter.
Hey @cz_binance, what’s going on with your Doge customers? Sounds shady.
— Elon Musk (@elonmusk) November 23, 2021
CZ responded immediately and said:
“Elon, we’re pretty sure this is an issue with the latest doge wallet. We are in contact with the developers.”
Moreover, Zhao took the opportunity to highlight Elon’s past mistakes with electric vehicle company Tesla. He tweeted The Guardian’s “What happened here?” He added it to an article titled Zhao, Tesla 12 thousand vehicles “So what happened here?” said.
The discussion couldn’t go any further, with CZ later claiming that he and Elon were on the same team, that the conversation was just “in-team conversations”.
Binance was also quick to resolve the issue and explain exactly what was going on.
Finally, the exchange acknowledged that the DOGE Network has provided assistance since the issue arose. However, Binance had to completely rebuild the wallet, which caused the delay. DOGE users will have to wait another week for the issue to be resolved.