Binance Suspends Dogecoin Withdrawals after Upgrade

Briefly –

  • Binance suspended Dogecoin withdrawals following transactions stuck.
  • The exchange works with DOGE developers to solve the issue.
  • The problem came when Binance upgraded to v1.14.5 from v1.14.3.

Binance temporarily suspended Dogecoin (DOGE) withdrawals following brief issues following network updates. The problem seems related to stagnant void transactions.

Binance exchange has stopped Dogecoin withdrawals after discovering slight issues, according to 11 Nov reports. That came after the DOGE network completed a version upgrade one day before. Binance revealed that the update affected the network’s DOGE withdrawals. For now, the exchange works with DOGE developers to solve the problem, an announcement declared.

However, there is no time frame as to when the network will resume withdrawals. DOGE developers also provided further clarification on the scenario via Twitter.

Stuck DOGE Transactions

The developers said that Binance had notified them about stuck transactions almost one year ago. Inadequate fees were the possible reason behind the stuck. Binance reissued the transactions. DOGE developers suggested they utilize inputs to the crypto transactions for replacement transactions to invalidate them.

However, no one knows whether Binance adhered to the step, but it later told developers about encountering account reconciliation problems. The whole issue became more complex, and some days ago, the exchange told developers about unstuck transactions after the 1.14.5 update. Keep in mind that Binance upgraded directly to v1.14.5 from v1.14.3. Meanwhile, developers posted a theory explaining what the issue could have been. They said that it trusts that the previously stuck transactions retired automatically. That is a usual thing on every node restart following an upgrade.

The invalid transactions seemed to result from mempool’s maintenance absence. Meanwhile, the creators recommended routine maintenance practices to remove such issues. Binance exchange has seen an impressive performance this year with sturdy DEX and Binance Smart Chain. Nevertheless, it has seen some network issues and withdrawal suspensions, besides regulators’ oversight.

The exchange suspended Ethereum withdrawal at the start of this year amid network congestion. It also encountered an algorithm bug in 2021 October. Though the technical problems, the exchange has avoided massive incidents related to the issues. Meanwhile, Binance is on regulatory compliance at the moment.

Stay tuned for the latest market updates.

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