Phantom, a Solana-based non-custodial wallet service provider, faces controversies following an iOS app update causing account resets.
iOS Update and Reset Issues
Phantom alerted iOS users of app resets following an update. Users must re-enter recovery phrases to access their funds.
Phantom's Response and User Feedback
Developers released an update to stop further resets. Users are urged to save recovery phrases safely. One user reported losing $1 million in POPCAT after losing wallet access.
Frequent Phantom Downtimes
Phantom's status page shows operations are stable, but the website and backend experienced several downtimes over the last 90 days. Issues in October caused account balance errors, while August saw delays in balance updates.
Despite updates, Phantom continues to face technical issues with its app and backend. Users are advised to keep recovery phrases secure to protect their funds.
