MagSafe wallet with Find My - Melting?

Has anyone else had the lip of their MagSafe Wallet start melting?

Over the last few weeks the lip/edge where the cards are inserted has begun to deteriorate/melt leaving a sticky tan residue on my top card and my fingers when I touch it or go to remove any card. I have had it for under a year.

The wallet is fine everywhere else, gaining a nice patina as leather does with age and the other edges are all fine, just the lip above where the cards sit that is deteriorating.