Binance Wallet, the self‑custody platform developed by crypto exchange Binance, continued to face technical issues into Monday after Friday’s sharp market sell‑off. The company said users may experience delays in viewing wallet balances due to “network congestion.”
In a post on X, Binance Wallet said the product was “temporarily experiencing lag” and that “some information requires buffering time to display.” The platform added that engineers were working to restore full functionality. The exchange linked the disruptions to the same data problems that had affected its main trading platform late last week, when pricing errors briefly showed several altcoins trading at zero.
While the company did not confirm whether users were unable to transact, several traders on social media said the glitch prevented them from selling tokens. “I’ve incurred a loss of over $130 due to a 3.5% drop in BNB, and I couldn’t sell because of issues with your platform,” one user wrote in response to Binance Wallet’s post.
The lag came as BNB, the native token of Binance’s BNB Chain, hit a record high of $1,370 on Monday before paring gains to around $1,273, according to data from Coinbase. Some users questioned whether liquidity in the token was being affected by the same display problems, though Binance has not commented on any link.
Trust Wallet Faces Similar Glitches
The issues at Binance Wallet followed a similar disruption at Trust Wallet, another self‑custody service with historic ties to Binance. On Sunday, Trust Wallet said that some users were unable to see their balances due to a “market data sync issue.” The platform later announced that the problem had been fixed within four hours, though some users reported continued discrepancies after the fix.
Trust Wallet’s head of communications, Dami Odufuwa, told Cointelegraph that the issue was resolved as of 1:30 p.m. UTC on Monday and that users were still able to trade, stake, and transfer assets normally. “The issue only affected the visibility of fiat balances due to a temporary market data sync error,” Odufuwa said. “All assets remained safe.”
Trust Wallet said it has about 17 million monthly active users and more than 210 million app installs globally. The firm emphasized that no funds were lost and that the display problems did not affect on‑chain operations or self‑custody security.
Market Stress and Data Overload
Analysts attributed the display errors at Binance Wallet and Trust Wallet to network overload following Friday’s crash, which saw record liquidations across futures markets. Lucien Bourdon, a Bitcoin analyst at hardware wallet firm Trezor, said the errors were likely caused by “pricing and oracle servers under heavy stress.”
Bourdon noted that users could verify actual balances on blockchain explorers when wallet interfaces fail to load. “If a wallet UI looks wrong, you can check the balances on a block explorer. The takeaway is UI or infrastructure fragility under stress, rather than a self‑custody risk,” he said.
Binance’s co‑founder Changpeng “CZ” Zhao offered similar advice over the weekend, urging users to rely on on‑chain verification during high‑traffic periods. CZ’s comments came amid widespread frustration among retail traders who were unable to confirm balances or execute trades during the volatility.
Broader Impact
As of publication, Binance Wallet acknowledged receipt of Cointelegraph’s request for comment but had not responded. The display problems appeared confined to Binance Wallet and Trust Wallet, with no similar issues reported by competitors such as MetaMask or Ledger Live.
The disruptions come during a volatile stretch for the crypto market. Friday’s sell‑off triggered billions of dollars in liquidations, stressing both centralized exchanges and decentralized data oracles. While on‑chain assets remained unaffected, the incident renewed debate over whether major crypto firms are adequately equipped to handle sudden traffic spikes when markets move sharply.