Phantom Wallet Update Causes Token Access Issues for Some Users

A recent update to the non-custodial Phantom wallet for Solana resulted in app resets on iOS devices. Developers have cautioned that they cannot assist in recovering funds for those who have not backed up their seed phrases.

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

“A small number of iOS users are experiencing app resets. If you are among them, you can restore your wallet using your recovery phrase. We have released an iOS app update to prevent this issue from affecting others. Please ensure you always back up in a safe place,” the developers stated.

This response came after a wave of user frustration over lost funds.

I’m seeing quite a lot of people across being affected by the new phantom IOS update that is “deleting” all the wallets off your phone — losing wallets with a lot of money in them ( specifically hot wallets they made just for trading memes).

This now becomes an interesting…

— Tom (@SolportTom) November 13, 2024

“I see quite a lot of people affected by the recent Phantom update on iOS, which ‘deletes’ all wallets from your phone. […] Who is to blame? Are there compensations? […] Or will we chalk this up to the game and blame users for not saving their private keys/seed phrases,” said Tom, founder of Graphite Protocol.

Back in October, the Irish Criminal Assets Bureau lost control of 12 wallets containing 5500 BTC ($335.9 million), seized in 2019 from a drug dealer. At the time of confiscation, they were valued at $56 million.