Phantom, a popular Solana-based non-custodial crypto wallet, has warned its iOS users about potential app resets following a recent update.
The company revealed that the update has caused users to be logged out of their wallets, requiring them to re-enter their recovery phrases to regain access. Those who have yet to back up their recovery phrases securely risk losing access to their funds.
Update triggers app resets for iOS users
We're aware that a small number of iOS users are experiencing app resets. If you happen to be among them, you can restore your wallet using your recovery phrase.We've pushed a new iOS app update to prevent this from affecting any additional users.Please make sure you always…
— Phantom (@phantom) November 13, 2024
Phantom informed iOS users that its recent mobile app update has caused unintentional app resets. These resets log users out of their wallets, prompting them to re-enter their recovery phrases to restore access. The issue has raised concerns among affected users, some claiming to have lost substantial cryptocurrency.
One Phantom user reportedly lost $1 million worth of POPCAT tokens after being locked out of multiple wallets. In a now-deleted post on X, the user expressed frustration with the update, stating they could no longer access their funds. Phantom has emphasized that as a non-custodial wallet provider, it cannot recover funds for users who lose their recovery phrases. The company encouraged impacted users to contact its support team for guidance.
Phantom releases new update to address the problem
In response to the issue, Phantom announced the release of a new iOS update designed to prevent further app resets. The company also advised all users to back up their recovery phrases in a secure location to avoid similar problems in the future. Phantom stressed the importance of safeguarding recovery phrases, as they are the only means of accessing wallets in such situations.
Some users shared their frustrations over the update on social media, while others expressed relief that the company acted swiftly to resolve the problem. Despite these efforts, the incident has highlighted the challenges of managing user data and wallet access in the non-custodial crypto ecosystem.
History of downtime on Phantom’s platform
Phantom has experienced several technical issues this year, including multiple downtime across its platform. Data from the wallet’s status page indicates outages affecting the mobile app, browser extension, backend, and website over the past 90 days.
In late October, Phantom users encountered errors while claiming GRASS airdrop tokens, leading to inaccurate account balances. Similar issues occurred in mid-August when some users reported delays in updating wallet balances. Other minor outages were recorded in September and earlier this year, with most being resolved quickly by the technical team. The recent update for iOS users underscores the importance of maintaining secure backup practices as Phantom continues working to enhance its services.
The post Phantom Wallet Warns iOS Users About Potential Wallet Access Issues first appeared on Coinfea.
