What Happened: Musk commented on a CoinDesk report featuring the Binance CEO’s comments, tagging CZ and stating that whatever is going on with Binance’s DOGE customers “sounds shady.”
Hey @cz_binance, what’s going on with your Doge customers? Sounds shady.
— Elon Musk (@elonmusk) November 23, 2021
Although Binance did not put out an official statement, an account from Dogecoin developers suggested Binance mistakenly sent out a few million dollars worth of re-processed withdrawals from last year.
6) Currently what we believe has happened is the previously stuck transactions have been retried automatically, as would happen on each node restart after upgrade — and went through, since now the minfee is lower….
— Dogecoin Developers (@dogecoin_devs) November 11, 2021
Some market participants believed a bulk of DOGE’s negative price action may have been caused by Binance’s error.
If you’ve withdrawn $DOGE from your Binance account to another wallet, go check that wallet. You may have received free tokens from Binance’s OOPSIE.$DOGE had a more significant dump recently, I expect it could be because of this.
Multiple cases have confirmed this oopsie. pic.twitter.com/sErsBtx1nZ
— wolf (@ImNotTheWolf) November 11, 2021
Data compiled by users show the amount Binance lost totaled $152 million worth of DOGE.
DOGE Price Action: Dogecoin was trading at $0.2311, gaining about 3.26% in the past 24 hours, Tuesday morning at publication.
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