Phantom, a provider of non-custodial wallet services based on Solana , found itself at the center of a scandal after recently updating its application for devices running the iOS operating system.
It turned out that after updating the application, all settings are reset and the user is automatically logged out of their account. In order to restore the account and regain access to funds, they must enter the SEED phrase again. Those who have not saved this phrase may lose their assets.
We are aware that a small number of iOS users are experiencing issues with restarting the app. If you are one of them, you can restore your wallet using your SEED phrase, the Phantom Wallet developers said.
They also reported that they had released another update for the iOS operating system, which fixed the access problem.
However, some Phantom Wallet users have already reported losing access to their assets after the app was updated. One crypto investor wrote on social media that he lost $1 million in POPCAT after failing to enter his SEED phrase.
After updating Phantom, I logged out and lost access to these wallets completely. I lost $1 million in POPCAT. @phantom, are you kidding me? — wrote a user under the nickname 0xFiyopi.
This is not the first problem with Phantom Wallet. At the end of October, the platform's server was down for more than two hours due to overload, and users' accounts displayed inaccurate balances. Similar difficulties arose in early October and September, although they lasted for several minutes.
