The Rams have endured a season like no other after being handed a 21-point deduction for going into administration, while also facing the long and obstacle-ridden road to securing new ownership.
Reports have suggested the club's administrators, Quantuma, were expected to name their preferred bidder for the club over the weekend, but that decision is yet to be made.
There are suggestions that none of the bids have met the financial requirements for the deal.
As a result, Derby could be handed a further points deduction if the applied bids don't meet EFL insolvency regulations.
On the pitch, Wayne Rooney's side have showed genuine battling qualities this term but still find themselves at the bottom of the Championship with the prospect of relegation to League One looming large.
That has led to unrest among supporters who have been kept in the dark regarding matters at the club.
But, according to Millwall star Wallace, it's not just the fans who are unaware of the state of play, but the players as well.
Speaking to The EFL Show on talkSPORT 2, Wallace said: "What's crazy is that the normal football fan thinks that they're hiding stuff from us, but when I speak to my friends at Derby, they don't know any more than what you do.
"No one knows anything.
"What I will say, is that Wayne Rooney's done an unbelievable job. The coaches, the leaders in the dressing room like Tom Lawrence, Curtis Davies, Richard Stearman and Colin Kazim-Richards, they've done unbelievably well.
"The fans, every single one of them, deserves a massive pat on the back. They've put their money forward to watch their team even though they're probably fighting against impossible circumstances.
"We played there on a Tuesday night and there was about 27,000 there, it was unbelievable. Fair play to them.
"I think everybody wants them to stay up but it looks like it'll be a step too far for them, but they've got a fantastic young manager and a lot of good young players that you hope, if the club survive, they can build the club around the likes of Jason Knight, Eiran Cashin, Max Bird and these guys moving forward.
"You just hope that these good players don't get taken away from the football club because then they really are starting from square one again."