Binance Wallet users have reported ongoing balance display issues following Friday’s cryptocurrency market crash. The self-custody wallet, part of Binance’s suite of services, continued to experience problems into Monday. Binance confirmed on X that the wallet was temporarily experiencing lag due to network congestion, which affected the display of certain wallet data.
“This information requires some buffering time to display. We are actively working on resolving this issue,” the platform stated. Binance also noted that pricing abnormalities affecting multiple altcoins on its trading platform may have contributed to the display problems.
Users Report Transaction Difficulties
While Binance did not confirm any impact on wallet transactions, several users claimed they were unable to interact with their assets. One user reported a loss of over $130 due to a 3.5% drop in BNB, stating that the platform prevented them from selling during the market fluctuation. Concerns were also raised about the liquidity of BNB, the native token of Binance-operated BNB Chain, which reached a new all-time high of $1,370 on Monday, according to Coinbase data.
Source: Binance Wallet
Trust Wallet Also Experiences Issues
Binance co-founder Changpeng “CZ” Zhao’s Trust Wallet experienced similar display problems on Sunday. Trust Wallet attributed the problem to a market data sync error.
“We’re aware that some users are unable to see their balances in Trust Wallet due to a market data sync issue,” the platform stated on X. The issue was resolved within four hours, but some users reported continued incorrect balance displays.
Dami Odufuwa, Trust Wallet’s head of communications, confirmed that the problem was fully resolved by Monday at 1:30 pm UTC. She clarified that users could still swap, stake, and transfer crypto assets as usual, noting that only fiat balance visibility was affected.
Network Stress Likely Cause
Experts suggest that the market crash and resulting record liquidations put significant stress on pricing and oracle servers. Lucien Bourdon, a Bitcoin analyst at hardware wallet maker Trezor, explained that incorrect balance displays were likely due to infrastructure under pressure rather than any risk to self-custody funds.
Bourdon advised users to verify balances using blockchain explorers during periods of network congestion. CZ shared similar guidance on X, emphasising that UI issues do not indicate a compromise of user funds.
Source: Trust Wallet
Exclusive to Binance and Trust Wallet
The display problems appear to be isolated to Binance Wallet and Trust Wallet, with no other cryptocurrency wallets reporting similar issues at the time of publication. Binance acknowledged requests for comment but had not responded by publication time.
Conclusion
Both Binance Wallet and Trust Wallet have reassured users that despite display errors, all assets remained secure. The incidents highlight the challenges of platform infrastructure during periods of extreme market volatility, underlining the importance of using blockchain explorers to confirm balances when wallet interfaces display irregularities.
