Binance Pockets is incorrectly displaying customers’ balances as $0 after “network congestion,” following this weekend’s $20 billion market crash, brought about the platform to lag.
Customers reportedly can’t view “interactive event information,” corresponding to account balances and costs.
Binance claims that these issues are “purely display-related,” and that “no core functions or user balances are affected.”
It described the lag as “temporary.”
Engineers are reportedly working to repair the scenario and restore the software program’s real-time updates as soon as community situations stabilize.
Community congestion will be brought on by restricted bandwidth or {hardware} limitations. Nevertheless, given the weekend’s occasions, a spike in consumer demand and visitors is the probably wrongdoer.
Crypto crash has Binance on the ropes
Pockets problems are simply an undesirable cherry on the cake for Binance after the market crash brought about points for its Binance Earn program.
Certainly, three Binance Earn property, USDE, BNSOL, or WBETH, depegged throughout the chaos and brought about points with transactions.
Binance apologized for this, and customers holding these property had been compensated collectively to the tune of $283 million.
The final 24 hours have been turbulent for the crypto market, and I do know lots of you confronted challenges on our platform. I’m actually sorry to everybody who was impacted.
We don’t make excuses — we pay attention intently, be taught from what occurred, and are dedicated to doing higher. Should you’re…
— Richard Teng (@_RichardTeng) October 11, 2025
Assertion from Binance’s CEO apologising for this weekend’s points.
Binance’s Chief Buyer Service Officer, Yi He, additionally apologised for the problems customers skilled, and attributed it to “significant market fluctuations,” and a “substantial influx of users.”
Some Binance altcoins additionally plummeted in worth, with Cosmos and IoTeX briefly dropping to $0. The tokens reportedly fell in worth on different exchanges, however nowhere close to as dramatically as they did on Binance.
Some analysts consider this was the results of Binance auto-liquidating tokens tied to collateral, whereas others recommended that market makers, corresponding to Binance’s Wintermute, turned off liquidity bots and left altcoins with out shopping for orders.
The crypto crash started on October 10 and noticed the trade’s world market cap fall by over $400 billion in hours.
Nearly $20 billion in crypto positions had been liquidated, and bitcoin fell by over 15%.
Protos has reached out to Binance for remark and can replace this piece ought to we hear something again.
