Tesla CEO Elon Musk is raising concerns on behalf of dogecoin holders regarding the recent DOGE problem at Binance.
Notably, The issue causes numerous erroneous dogecoin transactions with some users reporting that their accounts is froze.
Furthermore, Elon Musk also known as the Dogefather, asked Binance CEO Changpeng Zhao (CZ),
“What’s going on with your Doge customers?”
Then, Elon Musk adds, “Sounds shady.”
More so, His tweet sees much attention. At the time of writing, receiving over 4.5K comments and over 24.1K likes
Consequently, Both Zhao and the official Twitter account for Binance replies to Elon Musk.
So, The Binance account shows no agreement with Musk about the situation.
“No, not shady — just frustrating and we’re working on it,”
Then, the exchange’s official account writes, points out Elon Musk to another thread with a better explanation of the situation.
“The root cause is a technical issue during the recent upgrade process that caused old…”
“transactions to be resent to 1,674 users,”
So, Binance explains further, clarifying that the issue on Binance and not on other crypto trading platforms
“because we have a different technical wallet setup for DOGE.” So, The exchange adds.
“We have to rebuild the wallet entirely, which is causing a delay…”
“that we expect may last another week or so.”
Lastly, Elon and Cz later reaches a mutual understanding.