Nikolas Sargeant
Phantom, a leading cryptocurrency wallet provider, has issued an urgent update for its iOS application after users reported unexpected app resets that prevented wallet access without recovery phrases. The incident triggered widespread concern among the platform's user base regarding potential fund losses. You
Emergency iOS Update Addresses Wallet Access Issues
Following user reports of automatic logouts and balance disappearances, Phantom quickly released an updated iOS version to address the problems. While acknowledging the issue affected "a small number of iOS users," the company emphasized the critical importance of maintaining secure recovery phrase backups.
The situation sparked significant user response, with several individuals reporting substantial losses. Claims ranged from missing SOL tokens to compromised wallets containing significant holdings, including one user reporting $600,000 in affected assets. Crypto influencer Ace cautioned their 42,000 followers about updating without securing recovery phrases first.
Platform Stability Concerns Amid Recent Technical Challenges
This incident follows a series of technical difficulties experienced by Phantom, including an October outage that resulted in display issues for account balances. As a non-custodial wallet service, Phantom maintains it cannot recover funds for users who have lost their seed phrases but has offered support team assistance to affected users.
The platform's recent challenges coincide with increased activity on the Solana network, notably during the GRASS token airdrop. Despite these setbacks, Solana's network performance has remained strong, even exceeding Ethereum in daily fee generation.
