Elon Musk
Elon Musk

Binance faces Dogecoin wallet issues, Elon Musk voices concern

As Binance faces Dogecoin wallet issues, Elon Musk voices his concern over Twitter. Elon even went to lengths, calling the situation shady as Dogecoin investors complain about the same on Twitter. He also added that Doge investors should be protected from any error that is not their fault. The conversation between Binance’s CEO and Elon even heated up a bit, but things ended on a good note.

Elon Musk speaks up about Dogecoin wallet issues on Binance

After the recent wallet issues on Binance, a lot of users were complaining about the same on Twitter. The issues are such that the dogecoin transactions are showing errors, and many even have their wallet frozen. This is obviously going to create panic in the market, which is what happened here. Therefore, as it caught Elon’s attention, he tweeted:

The word shady was not well received by Cz Binance and he replied saying “No, not shady — just frustrating and we’re working on it,” He also shared a previous explanation about the same with Elon Musk. In fact, since Elon used the word “shady” as if Binance was doing something wrong or tricking their users, CZ also tagged an article in this reply where Tesla has to recall 12k vehicles due to software glitches in the US.

Elon replied to the same, saying that he doesn’t use Binance as the signup process has too many steps. And his intention of pointing out this issue was on behalf of other Dogecoin holders. CZ also said that he appreciates it and overreacted a bit due to the word “shady.” He also recommends that Elon uses Binance US, which still has a long signup process but supports Doge. And then Elon replied back, saying, “Sounds Good,” ending this convo on a good note.

What actually happened?

If you want to check out what happened, just go through this Twitter thread. To sum things up, there is some technical issue faced by Binance due to an upgrading process. It caused around 1674 old transactions to be resent to users, and some even have their wallets frozen. Binance said they are rebuilding the wallet, and therefore the process is going to take some time.

What are your thoughts on Elon voicing concerns as Binance faces Dogecoin wallet issues? And do you think that the use of the word “Shady” was little over the top? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Bank of Russia takes steps against Illegal use of digital assets.