“Sounds Weird”: Elon Musk Attacks Binance CEO Over Dogecoin Failures By Investing.com

By Laura Sánchez

Investing.com – Elon Musk, CEO of Tesla (NASDAQ :), raises his voice again on Twitter (NYSE :). This time, to attack Changpeng “CZ” Zhao, CEO of Binance, for the problems in the withdrawal of.

Dogecoin, which soared into the top ten cryptocurrencies by value earlier this year thanks in part to social media support from moguls like Musk, has risen 6,000% in a year.

Earlier this month, Binance, the world’s largest cryptocurrency exchange site by volume, suspended Dogecoin withdrawals after an update that users say caused Dogecoin to be wrongly credited to its account, it reports. Forbes.

“Oye [CZ]What is happening with your Doge clients? Sounds murky, “Musk said via Twitter, responding to a Coindesk report on a Financial Times interview in which CZ said his goal is to improve the perception of Binance by regulators.

“Doge holders using Binance should be protected from failures that are not their fault,” Musk added.

Following the failure of the update, Binance said that users must return Dogecoins sent by mistake or they will not be able to withdraw or use funds in their balances. Users have claimed that they do not have Dogecoin on their Binance accounts, according to media reports collected by Forbes.

“Elon, we’re pretty sure it’s a problem with the latest doge wallet,” CZ replied. “We are in communication with the developers. We apologize for any inconvenience this may have caused you.”

Following Musk’s tweet, Binance posted a thread explaining the situation and the problem it has with dogecoin withdrawals.

“The main cause is a technical problem during the recent update process that caused old transactions to be forwarded to 1,674 users,” Binance posted on Twitter. “The problem occurred on Binance, and not other platforms, because we have a different technical wallet setup for Doge. Since the incident happened, the Doge Network has been supporting us, but we have to rebuild the wallet entirely, which is causing a delay that we hope will last a week or so. “

Binance added that it is aware that users “are upset, and rightly so.” The exchange first reported the issue nearly two weeks ago and previously updated a blog post saying that it expects “network withdrawals to be suspended for the next 10 to 14 days from November 15, 2021,” it states. Forbes.

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“Sounds Weird”: Elon Musk Attacks Binance CEO Over Dogecoin Failures By Investing.com