Binance’s balance display issues persisted on some of its services following Friday’s market crash, and its self-custody product, Binance Wallet, was still affected as of Monday.
Binance Wallet took to X on Monday to report that the wallet was “experiencing a temporary lag” due to network congestion, resulting in some users being unable to view certain wallet data.
“This information requires some buffering time to display. We are actively working to resolve this issue,” the post said.
Binance also attributed similar display issues to price anomalies affecting several altcoins on its trading platform following Friday’s market crash.
Users report that they cannot sell
While Binance Wallet’s post did not mention whether the display issues have affected wallet transactions, some users claimed that the issue prevented them from interacting with their assets.
“I have incurred a loss of over $130 due to a 3.5% drop in BNB and was unable to sell due to issues with your platform. Who is responsible for this?” wrote one commenter.
Others also raised questions about the liquidity of BNB (BNB), the native crypto asset of the BNB chain operated by Binance, as the token hit a new all-time high of $1,370 on Monday, according to data from Coinbase.
The Binance Wallet balance display issues came shortly after Trust Wallet, a self-custody wallet owned by Binance co-founder Changpeng “CZ” Zhao and previously operated by Binance, experienced similar issues on Sunday.
Trust Wallet cites “market data synchronization issue”
“We are aware that some users are unable to view their balances in Trust Wallet due to a market data synchronization issue,” the platform wrote on X on Sunday, later confirming that the issue was resolved in about four hours.
Some users continued to experience the issue even after Trust Wallet said it had been resolved, and commenters reported that wallet balances were still showing incorrect information.
Trust Wallet head of communications Dami Odufuwa confirmed to Cointelegraph that the issue was resolved on Monday at 1:30 pm UTC.
Odufuwa said users could still trade, stake and transfer their crypto assets as usual despite the display issues, adding:
“The issue only affected the visibility of fiat balances due to a temporary market data synchronization error. All assets remained secure and users’ self-custody and on-chain experiences were not affected at all.”
The executive said Trust Wallet’s user base has at least 17 million monthly active users with 210 million app installs historically.
Market crash put price oracles under strain
According to Lucien Bourdon, a Bitcoin analyst at hardware wallet maker Trezor, the incorrect balance displays on Binance Wallet and Trust Wallet were likely caused by record liquidations that placed significant strain on Oracle’s prices and servers.
Bourdon noted that users can always check their balances through a blockchain explorer during periods of network congestion, echoing similar advice shared by CZ on Sunday.
“If a wallet UI [user interface] seems incorrect, you can check the balances in a block explorer. The bottom line is the fragility of the user interface or infrastructure under stress, rather than a self-custody risk,” Bourdon told Cointelegraph.
Related: Crypto Funds Attract $3.2 Billion Inflows Despite Friday’s Flash Drop
The display issues experienced by Binance Wallet and Trust Wallet appear to be unique to these two platforms at the time of publication, with no other wallets reporting similar UI issues.
Binance Wallet acknowledged Cointelegraph’s request for comment but had not responded at the time of publication.
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