Problems with Displaying Balances in Binance and Trust Wallets
Users of Binance’s self-custody platform, Binance Wallet, reportedly experienced ongoing glitches in balance display following the sharp drop in crypto prices on Friday.
Since Monday, users reported delays seeing wallet balances due to network congestion. Binance Wallet acknowledged the problem on X:
“This information will take some time to load. We are currently addressing this issue.”
Binance’s trading platform also displayed price anomalies for several altcoins, causing confusion among traders.
Users Face Challenges in Selling Assets
Binance Wallet did not confirm if transactions were blocked, but some users said they were unable to sell their holdings due to the glitch. One user tweeted:
“Because of a fall of 3.5% in BNB, I lost more than $130, and could not sell because of your site errors. Who is responsible for this?”
According to Coinbase data, the issues arose while BNB traded at a new all-time high of $1,370, although some users still faced UI inconsistencies.
Also Read : Grayscale Launches Staking for Ethereum and Solana ETPs in the US
Trust Wallet Also Affected
Shortly before the Binance Wallet display issues, Trust Wallet, a self-custody wallet originally managed by Binance co-founder Changpeng “CZ” Zhao, faced a market data sync issue on Sunday.
Trust Wallet posted:
“We know that many users are not able to see their cryptocurrency balances in the Trust Wallet due to a market data sync issue.”
The issue was fixed within 4 hours, yet some users reported incorrect balances. Trust Wallet communications head Dami Odufuwa clarified:
“All assets remained safe. The problems had no impact on users’ ability to swap, stake, and transfer their crypto. The problem only impacted the visibility of fiat balances.”
With over 210 million installs, Trust Wallet has more than 17 million monthly active users.
Strains on the Wallet Infrastructure
Bitcoin analyst Lucien Bourdon at hardware wallet maker Trezor believes the errors on exchanges likely occurred due to record liquidations during the crash. This put stress on price oracles and server infrastructure.
Bourdon recommended:
“You can verify your balances on a blockchain explorer if your wallet UI seems incorrect. This is a stressed infrastructure issue rather than a self-custody risk.”
CZ expressed on X that user funds remained safe despite UI issues.
As of this report, Binance Wallet had not responded to a request for comment. Notably, these display errors were only observed in Binance Wallet and Trust Wallet; other self-custody wallets did not report similar issues.
