Crypto exchange Binance suspends dogecoin withdrawals due to a glitch after a network update
Binancesaid Thursday it has temporarily halted all withdrawals of meme token dogecoin.
- The world's biggest crypto
exchangesaid it had found a glitch after carrying out a DOGEnetwork update.
- Earlier in November, Binance suspended all
cryptowithdrawals due to a database glitch.
Binance, the world's biggest crypto exchange, said it had temporarily suspended all dogecoin withdrawals, according to a statement on Thursday after a dogeocin network upgrade resulted in a glitch.
The crypto exchange said they will resume withdrawals once the problem had been resolved.
"Binance is actively working with the DOGE project team to resolve the issue," the company said in its statement.
It said that users could withdraw dogecoin on other networks during this time.
"We will provide a further update as soon as possible," the company said.
By Friday morning, there had still been no updates from the company.
Dogecoin investors have been relatively calm. The token was last up 0.14% to stand at $0.2612 at 05:19 a.m. ET Friday, according to Coinmarketcap data.
Earlier in the month, the company had to suspend all crypto withdrawals for two hours after a problem with a database. Another Binance outage occurred in May, which led to major losses and investors asking for the network to compensate them.
Analysts have warned people to be careful with crypto
Coinbase, the largest publicly listed exchange, experienced an outage in September after a sudden increase in network traffic and market activity. Robinhood, a trading platform, also suffered an outage that lasted a day and a half last year.
- Reliance Industries net profit more than triples in the last eight quarters to $2.8 billion
- Reliance Retail earns $1.3 billion more than its best-ever quarter
- Reliance Jio is making the most money it has ever made from its subscribers
- Twitter’s long-awaited hexagonal profile pictures that give bragging rights to NFT HOLDers is here — but not everyone loves it
- IIT-Bombay’s annual socio-weekend to start from January 22