Binance Wallet and Trust Wallet Experience UI Delays After Market Crash

Issues with Binance’s balance display continued across several of its services after the market crash on Friday, with Binance Wallet still experiencing problems as of Monday.

On Monday, Binance Wallet posted on X to inform users that the wallet was “temporarily experiencing lag” due to network congestion, preventing some users from accessing certain wallet data.

“This information requires some buffering time to display. We are actively working on resolving this issue,” the announcement stated.

Binance also linked similar display issues to pricing anomalies impacting several altcoins on its trading platform after Friday’s market crash.

Users report inability to sell

While Binance Wallet’s announcement did not clarify if transactions were affected, some users reported that the issue hindered their ability to manage their assets.

“I’ve lost over $130 due to a 3.5% drop in BNB, and I couldn’t sell because of your platform issues. Who is accountable for this?” one user wrote.

Others raised concerns about the liquidity of BNB (BNB), the native cryptocurrency of the Binance-operated BNB Chain, which reached a new all-time high of $1,370 on Monday, according to Coinbase data.

Binance Wallet’s display issues emerged shortly after Trust Wallet— a self-custody wallet owned by Binance’s co-founder Changpeng “CZ” Zhao and previously managed by Binance—faced similar challenges on Sunday.

Trust Wallet cites a “market data sync issue”

“We’re aware that some users cannot view their balances in Trust Wallet due to a market data sync problem,” the platform stated on X on Sunday, later confirming that the issue was fixed within approximately four hours.

Despite Trust Wallet’s assurance of resolution, some users continued to report discrepancies, with commentators indicating that wallet balances were still incorrect.

Trust Wallet’s communications head, Dami Odufuwa, confirmed to Cointelegraph that the issue was resolved as of Monday at 1:30 pm UTC.

Odufuwa emphasized that users could still swap, stake, and transfer their cryptocurrencies as usual despite the display issues, adding:

“The problem only impacted the visibility of fiat balances due to a temporary market data sync error. All assets remained secure, and users’ onchain and self-custody experiences were completely unaffected.”

The executive noted that Trust Wallet has a user base of at least 17 million monthly active users and a total of 210 million app installs historically.

Market crash stressed pricing oracles

Lucien Bourdon, a Bitcoin analyst at hardware wallet manufacturer Trezor, indicated that the inaccurate balance displays on Binance Wallet and Trust Wallet were likely a result of the unprecedented liquidations that placed immense stress on pricing and oracle servers.

Bourdon advised that users can always verify their balances through a blockchain explorer during network congestion, echoing similar guidance given by CZ on Sunday.

“If a wallet UI [user interface] appears incorrect, you can check the balances on a block explorer. The key takeaway is the fragility of UI or infrastructure under stress, rather than a risk in self-custody,” Bourdon explained to Cointelegraph.

Related: Crypto funds attract $3.2B inflows despite Friday’s flash crash

The display issues experienced by Binance Wallet and Trust Wallet seem to be limited to these two platforms at the time of publication, with no other wallets reporting similar UI problems.

Binance Wallet acknowledged Cointelegraph’s request for comment but had not responded by the time of publication.