Binance announce temporary suspension on DOGE withdrawals following an upgrade. Users say that the crypto exchange is not allowing them to make any withdrawals until they return the DOGE that they don’t even have.
According to the Binance announcement: “We discovered a minor issue with DOGE network withdrawals on Binance after carrying out a version gisted on 2021-11-10. As a result, we have temporarily suspended DOGE network withdrawals until this issue is resolved. Binance is actively working with the DOGE project team to resolve the issue.”
The announcement did not specify what the “minor issue” was.
The upgrade seems to have created big problems for some of Binance users. According to some users claim that the crypto exchange first initiated the withdrawal of Dogecoin without their consent, and is now asking these users to return the dogecoin that they do not currently have in their Binance accounts.
Several Binance users have complained that Binance asked them to return DOGE to the exchange, or else their withdrawal function on the exchange would remain deactivated. What made the whole thing more complicated was that the affected users said they didn’t even have any DOGE in their Binance accounts to return.
In a tweet thread on Thursday by Dogecoin Developers Twitter account provided some clarity to the matter. They explained that the initial withdrawal transactions seems to have been follow-up attempts to carry out requested transactions from years ago that were “stuck” due to “insufficient fees.” The Dogecoin network upgrade initiated a few days ago appears to have triggered those old transactions, according to the tweet thread.
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
According to the upgrade’s github page., the upgrade finalized “a new minimum fee recommendation” for all participants on the network; the developers therefore believe that the transactions that got stuck appear to have been re-tried, even when the users no longer own the coins anymore.
The Dogecoin developers said that tried to work with Binance when the exchange first reached out over a year ago on the “stuck transactions,” but they have not been notified if the exchange followed their instructions to solve the problem