Phantom Wallet User Issues

Phantom, the maker of the popular Solana wallet, has alerted users to "app resets" affecting iOS.

iOS App Resets

The company announced on social media that a small number of iOS users are experiencing app resets. If affected, users can restore their wallets using their recovery phrases. Phantom has issued an update to prevent further incidents.

> "Please ensure you back up your recovery phrase securely. We sincerely apologize for any inconvenience and are committed to preventing future issues," the company stated.

Background on the Issue

On Wednesday, some users reported being automatically logged out after a recent Phantom update and subsequently losing access to their wallets. This issue seems to affect those who didn't back up their seed phrases.

Since Phantom is a non-custodial wallet, the company cannot assist in retrieving lost funds for users who haven't stored their seed phrases securely. They encourage users to contact their support team for help. A seed phrase is a list of words that serves as a backup for recovering a cryptocurrency wallet.

Recent User Losses

This incident marks the second time users have reported issues with their Phantom wallets in a short period. Earlier in late October, an error displayed incorrect account balances. Users like @0xFiyopi reported losing significant amounts due to the app logging them out.

> "Lost $1 million USD in $POPCAT," they stated. Other users expressed frustration at losing multiple wallets during the update.

Community Response

Graphite Protocol's founder commented on the situation, questioning accountability and potential compensation for affected users, emphasizing the lack of responsibility taken by some users for not saving their private keys and seed phrases.

Phantom's status page currently indicates that all systems are operational, with no reported issues. A representative has yet to respond to press inquiries.