Binance CEO counters Elon Musk for bringing up Dogecoin issues


Twitter has become another battleground for cryptocurrency as Binance faces persistent problems with Dogecoin (DOGE) withdrawals.

Tesla CEO Elon Musk, one of the biggest fans of Dogecoin in the world, took to Twitter on Tuesday to discuss the challenges of withdrawing DOGE funds to Binance. Musk, better known by his brand name of Binance CEO Changpeng Zhao, wrote, “What is going on with Doge customers? Sounds suspicious.”

Binance’s official Twitter account responded in about 30 minutes, stating that there was nothing controversial about the issue, and citing a recent Twitter update on the issue. “The main reason was a technical issue during the last update process that resulted in old transactions being sent back to 1,674 users,” Binance said.

As a result of this issue, some Binance users received outdated transactions and others were unable to withdraw Dogecoin. “We have asked those receiving old transactions to return them, but we know that some users are having difficulty accessing any of the wallets.

The company went on to say that the issue arose exclusively on Binance, as the platform had a “different technical wallet setup for DOGE.” To address this issue, Binance must rebuild its entire portfolio, which could take “another week or so,” the company noted.

Apparently unhappy with Binance’s response, the Tesla chief continued to attack the exchange, stating, “Doge owners who use Binance should be protected from the mistakes of others.” Musk also cited a Dogecoin development thread, which explained that the problem started a little over a year ago.

Binance CEO Zhao then joined the discussion, noting that the issue was related to the “latest Doge wallet.” “We are in contact with the developers,” he added.

On the topic: Crypto cannot be destroyed, says Tesla CEO Elon Musk

Zhao also opened fire on Musk, citing The Guardian, who reported a bug in Tesla’s software in October, which led to a recall of the security system of about 12,000 vehicles in the US. In the end, Tesla had to cancel the FSD update on the vehicles to fix the problem.

“What happened here?” Zhao wrote, seemingly, mimicking Musk’s comment to UN World Food Program Director David Beasley in their Twitter argument for a $6 billion donation to tackle world hunger.



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