🚨 𝐌𝐞𝐦𝐞 𝐂𝐨𝐢𝐧 𝐃𝐞𝐯 𝐋𝐨𝐬𝐞𝐬 $𝟓𝟎𝟎𝐊 𝐭𝐨 𝐖𝐚𝐥𝐥𝐞𝐭 𝐇𝐚𝐜𝐤 — 𝐒𝐮𝐞𝐬 𝐟𝐨𝐫 $𝟑.𝟏𝐌 🚨
Phantom Wallet, a popular crypto wallet on the Solana network, is facing a big lawsuit after a hacker reportedly stole over $500,000 worth of meme coins from a developer. The victims are now asking for $3.1 million in damages.
➤ What Happened?
A hacker got into the computer of Liam Murphy, a crypto developer and lawyer.
They grabbed his Phantom wallet keys from the browser and stole everything — without needing 2FA or extra passwords.
➤ Why Are They Blaming ?
The lawsuit claims Phantom stored private keys in an unsafe way — inside unencrypted browser memory.
This made it easy for malware to steal the wallet keys.
Phantom advertised itself as having “best-in-class security,” but the victims say it was badly designed and unsafe.
➤ Phantom's Response:
Phantom says:
➡️ It’s a non-custodial wallet, meaning users control their own keys
➡️ Users must stay alert and avoid scams
➡️ They deny all wrongdoing and will fight the lawsuit
➤ Huge Loss to the Project
The hacker used Phantom’s built-in Swapper tool to sell $500K of Wiener Doge (WIENER) for just $37K.
This crashed the token's value and destroyed the entire project, which once had a market cap of $3.1 million.
➤ OKX Also Named in Lawsuit
OKX, Phantom’s partner exchange, was also mentioned.
The lawsuit claims Phantom failed to reveal its links with OKX, which had past issues involving money laundering.
𝐁𝐨𝐭𝐭𝐨𝐦 𝐋𝐢𝐧𝐞:
The victims say Phantom’s poor design made it easy for hackers to strike.
Phantom says users are responsible for protecting their keys.
The court will now decide who’s right.
What’s your take? Should wallet apps be held responsible for security flaws?
#Phantom $SOL