In a recent interview, CZ was asked about Meme coins, such as DOGE and Shibu Inu. Here is the update from CZ.
Let me take a moment to share some background information on what’s been happening, and what’s going on.
The root cause is due to a technical issue during the recent upgrade process that caused old transactions to be resent to 1,674 users. I am sure this was a great surprise to them.
The issue occurred on Binance - and not other platforms - because we have a different technical wallet set-up for DOGE, due to the number of users we have.
Since the incident occurred, DOGE Network has been providing us with support, but we have to rebuild the wallet entirely, which is causing a delay that I expect may last another week or so. It’s a long and complex process, but the team is working hard.
We’re aware that 1) users who received old transactions and 2) users who cannot withdraw DOGE are upset - and rightly so. We’ve kindly asked those that receive the old transactions to return them, but we’re aware that select users are having trouble accessing some of the wallets. Our CS team is here 24/7 to help these users.
To the rest of the community, I want to say that I recognize that this is not the standard of technical excellence you expect from us, but I know the team is working very hard to fix this issue and they have my full support. No one is getting fired for this!
Thank you for your ongoing support.
CZ
