Crypto Exchange Binance Suspended DOGE Withdrawals

Binance has put a temporary termination over the DOGE withdrawals following the occurrence of a trivial issue caused by the network update of Dogecoin. The issue seems to be dealing with still invalid transactions. The crypto exchange suspended the Dogecoin (DOGE) withdrawals on discovering the respective issue on 11th November. On the day before that, a version update had been executed by the Dogecoin network, which (according to Binance) disturbed the DOGE withdrawals. The respective exchange is additionally working in collaboration with the developers of Dogecoin to sort out the issue. No specified time has been provided regarding when the withdrawals might start again. The incident has also been pondered over by the Dogecoin developers through Twitter to clarify the actual happening.

Stuck transactions of Dogecoin

The developers pointed out that they were informed by Binance during the recent year regarding the hindrance in transactions, having presumably stuck because of the inadequate fees. These transactions were reissued by Binance, and the developers of dogecoin mentioned that they utilized the inputs for hindering transactions from compelling them to get invalidated on their replacement by the others. However, it is ambiguous whether Binance continued the respective moves and, afterward, informed the developers that the transactions were unstuck after the update “1.14.5.” As it appears, Binance updated straight from v1.14.3 to the latest version, v1.14.5.

The developers suggested a concept regarding the issue, stating that presently they consider that the formerly jammed transactions have potentially been repeated spontaneously, as it usually occurs when the nodes are restarted following an update and executed because there is a decrease in minfee. It seems that those invalid transactions would have been stemmed from a deficiency of the mempool’s maintenance. The developers recommended that regular maintenance would be sufficient to tackle these issues.

Recent issues and Binance

The Binance did very well this year, with its Smart Chain as well as the linked DEX has been specifically strong. Nevertheless, a couple of problems have been found regarding the withdrawal suspensions as well as network overall, along with the huge oversight on behalf of the regulators. In the early phase of 2021, following the network congestion, Binance was compelled to terminate the ETH withdrawals for a short time. Recently in 2021’s October, Bitcoin’s price on the exchange’s division in the United States crashed to $8,200 due to a bug in the algorithm.