Elon Musk has grabbed Binance CEO Changpeng Zhao’s attention on Twitter as Dogecoin (DOGE) holders face withdrawal issues on the world’s largest exchange.
Binance suspended the withdrawal of DOGE on its platform on November 11th due to an issue caused by an upgrade. The exchange says it is suspending withdrawal transactions for up to 14 days as it continues to resolve the problem.
“The root cause is a technical issue during the recent upgrade process that caused old transactions to be resent to 1,674 users.
Since the incident occurred, DOGE Network has been providing us with support, but we have to rebuild the wallet entirely, which is causing a delay that we expect may last another week or so. It’s a long and complex process, but the team is working hard.”
In a series of tweets, Musk gave Zhao his take on Binance’s DOGE withdrawal suspension, calling the situation “shady.” Zhao apologized for the inconvenience while pointing to the technical nature of the issue. Zhao then took the opportunity to cast some shade himself.
Elon, we are pretty certain it is an issue with the latest #doge wallet. We are in communications with the devs. Apologies for any inconvenience that may have caused you.
What happened here? ?https://t.co/g2J50zqbEu
— CZ ? Binance (@cz_binance) November 23, 2021
Binance also says that it is working to fix the problem and clarifies that the issue is “not shady.”
The company acknowledges that users are upset they cannot withdraw their DOGE coins, but assures Musk that it is working to resolve the issue and will provide round-the-clock customer support to affected users.
Hey @elonmusk – no, not shady – just frustrating and we're working on it – details here ??https://t.co/hCJWRLrnee
— Binance (@binance) November 23, 2021
The Tesla CEO says that he is not a Binance user and is just voicing concern on behalf of other Dogecoin holders.
“I don’t use Binance (tried at one point, but signup was too many hoops to jump through), so no inconvenience to me personally. Just raising this issue on behalf of other Doge holders.”
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