The most recent update on the Dogecoin network led to issues on the world’s leading cryptocurrency exchange – Binance. Reports have emerged that the company has asked some of its users to return coins that were supposedly stuck for years and have resurfaced just now.
A problem on the Dogecoin-Binance front
The popular memecoin underwent its 1.14.5 update earlier this week, which aimed to address some security issues, lower transaction fees, and improve overall performance. Somewhat expectedly, the move received support from Dogecoin’s most famous proponent – Elon Musk.
However, the update caused problems for Binance as the company informed that it discovered “a minor issue with withdrawals from the DOGE network.” Consequently, the exchange temporarily suspended DOGE network withdrawals and also contacted Dogecoin’s developer team to resolve it.
The situation has apparently taken a different turn for some users, many of whom took him to twitter complaining that Binance contacted them to request DOGE tokens.
The Chinese journalist Colin Wu also reported on this, saying that some of the transactions that failed years ago have now gone through, meaning that older users have received seemingly lost DOGE tokens. Wu also added that Binance had been in contact with these clients to return the funds.
Lower Fees the Issue?
The Dogecoin Developers’ team confirmed on Twitter that some transactions were indeed stuck on Binance more than a year ago and that the two parties were in contact.
Although they could not resolve it at the time, the developers of Dogecoin updated yesterday that the transactions in question had been successfully relayed following the 1.14.5 update.
The team attributed the success now to the lower transaction fees that came with the new upgrade, which was the initial problem when they were stuck.
