‘Sounds Shady’—Tesla Billionaire Elon Musk Challenges Binance CEO Over Dogecoin Glitch

‘Sounds Shady’—Tesla Billionaire Elon Musk Challenges Binance CEO Over Dogecoin Glitch

Elon Musk, the Tesla billionaire who has this year somewhat adopted the meme-based bitcoin rival dogecoin as something of a pet project, has challenged Binance chief executive Changpeng "CZ" Zhao over the exchange's ongoing dogecoin withdrawl issues.

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Dogecoin, which earlier this year rocketed into the crypto top ten by value in part thanks to social media support from the likes of Musk, has added a blistering 6,000% to its value since this time last year.

Earlier this month, Binance, the world's biggest cryptocurrency exchange by volume, suspended dogecoin withdrawals following an upgrade that users had claimed resulted in dogecoin being erroneously credited to their account.

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"Hey [CZ] , what’s going on with your doge customers? Sounds shady," Musk said via Twitter, responding to a Coindesk report about a Financial Times interview in which CZ said he's aiming to improve the perception of Binance by regulators.

Following the upgrade glitch, Binance said mistakenly sent dogecoin must be returned by the users or they will be unable to withdraw or use funds on their balances. Users have claimed they don't have the dogecoin in their Binance accounts.

"We discovered a minor issue with doge network withdrawals on Binance after carrying out a version update on 2021-11-10,” Binance said in a blog post amost two weeks ago, with a update adding: "Due to the complex nature of the issue, we expect doge network withdrawals to be suspended for the next 10 to 14 days from 2021-11-15."

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