Binance stands for integrity and is always willing to compensate its users
The world’s richest man, Elon Musk calls out Binance in support of the Dogecoin community members. He has been a renowned advocate and long-time supporter of Dogecoin.
An error occurred on Binance resulting in the processing of an excessive amount of Dogecoin transactions from a year ago. In response to this malfunction, the DOGE platform imposed a two-week withdrawal freeze.
Hearing this Musk called out the CEO on the “shady” way he’s handling his customers. This was as a result of users claiming that Binance performed DOGE transactions without their permission. Dogecoin transactions were not in the account.
Binance posted a tweet on Twitter addressing Musk’s claim and describing the DOGE transaction problem. Musk disregarded the tweet and instead claimed that customers should not be a victim to this as a result of the exchange’s shortcomings.
Several customers claim that Binance emailed them and threatened to halt withdrawals until they returned the necessary amount of Dogecoin (DOGE). Dogecoin (DOGE) developers allegedly approached Binance to resolve the issue, stating that the error had released prior transactions that had been on delay for years due to low fees. Dogecoin (DOGE) creators tweeted an explanation on the matter saying that Binance months ago was approached for a solution.
Elon Musk the Dogefather
The previous renowned trader Peter Brandt reacts in the same way to Chanpeng Zhao’s tweets. The tweet elaborated on the crypto platform for unethical conduct. One of the users questioned Brandt’s strange reaction to the innocent message. What Binance is doing with its platform users will imprison individuals. He went on saying that “ Well aware of the abuses of the auction markets. But my gripe vs. crypto exchanges goes far deeper than bad fills – it deals with trading against customer orders way outside the daily range and not reporting the price discovery. We’d have been jailed.”
Musk, known as the Dogefather, is well-known for his constant support of Dogecoin (DOGE), and it really helped the meme currency to trade up for a change. Especially after a poor week following the criticism of Musk slamming the Binance wrongdoing that was on Twitter.
Dogecoin (DOGE) has gained 5% in the last 24 hours and is now trading at $0.234.